Real-time payments in the USA: What is holding us back?

Vinay Prabhakar

Journal of Digital Banking, 2019, vol. 3, issue 4, 361-370

Abstract: In November 2017, the USA finally entered the real-time account-to-account payment arena with the go-live of real-time payment (RTP) from The Clearing House. This paper explores the business opportunities RTP offers banks and financial institutions across a variety of consumer and business use cases, especially business-to-business (B2B) transactions. It also examines the unique challenges the US market poses for the adoption of RTP, relative to similar initiatives in other geographies. Finally, the paper concludes with a set of practical recommendations for financial institutions contemplating an RTP journey.

Keywords: RTP; real-time payments; faster payments; B2B; receivables; request for pay (search for similar items in EconPapers)
JEL-codes: E5 G2 (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:aza:jdb000:y:2019:v:3:i:4:p:361-370

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