The RTP® network, the largest instant payments system in the United States operated by The Clearing House, now averages over 1 million payments per day. The RTP network also set single day records of 1.46 million transactions valued at $1.24 billion on November 1.

In October, the RTP network experienced a record 31.7 million transactions valued at $25.4 billion, up 6.2% and 9% respectively, from September, as financial institution customers continued to enjoy the ease and speed provided by instant payments on the network.

Payment value on the RTP network is up 11.4% and transaction volume is up 12% from July 2024, which reinforces the trend we’re seeing from consumers and businesses looking for real-time payments from their financial services providers. These new records continue an impressive trend for the RTP network, which previously set numerous payment volume and value records in each quarter this year.

Payments activity on the RTP network shows that consumers and businesses are utilizing and benefiting from the system’s 24/7 capability, with a notable 42% of transactions happening overnight, on weekends, or on holidays. The utilization of the RTP network outside of normal banking hours (Monday through Friday, 8am-6pm ET) shows that it is providing real-world payments solutions that give users the flexibility to move money or pay bills when they want, and to meet the needs of the modern, 24/7 economy.

“It is exciting to see that the RTP network is supporting real world payment needs of both consumers and businesses with almost half of payments happening after banking hours,” said Margaret Weichert, Chief Product Officer at The Clearing House. “With the holiday season upon us, consumers can send money instantly to pay for gifts, holiday meals and other festivities, while small businesses can get paid in real time.”