Real-Time Payments (RTP) Definition
Real-Time Payments (RTP) is a modern, open-loop payment rail that enables the immediate transfer of funds between bank accounts, with final settlement occurring
Real-Time Payments (RTP) is a modern, open-loop payment rail that enables the immediate transfer of funds between bank accounts, with final settlement occurring in seconds, 24 hours a day, 365 days a year. Unlike traditional payment systems, RTP provides instant confirmation to both the sender and the receiver, significantly improving cash flow management and operational efficiency for businesses and consumers.