Fast growth for faster payments
Article Contributor / Janet LaFrence / Principal Product Manager
Faster payment growth is surging in 2025. Both RTP® and FedNow® Service reported significant increases in both volume and value of transactions made over their networks last quarter. In Q2 2025, the RTP network processed $481 billion in payments, a 195% leap in value from the previous quarter. Meanwhile, quarterly volume grew to 2.1 million payments for FedNow Service, with the value of those transactions growing over 400% to $245.8 billion. Both networks highlighted recent increases in their maximum transaction value as a contributing factor to the surge in growth.
Financial institutions are enabling business owners and accountholders to use instant payments for a variety of transaction types. Here are a couple of use cases we are seeing.
Instant funds from the family farm
Rod runs a family-owned farm selling pumpkins, gourds and hay rack rides. Saturdays are his busiest day of the week with families from miles around making their annual trek to find the perfect pumpkin.
Rod uses a popular payment processing service to take card payments from his clients paying for their fall fun. His merchant payment processor offers the option to receive expedited settlement through instant payments, which are available on weekends and holidays. Meaning at the end of the day, Rod checks his digital banking app and sees today’s earnings are already in his deposit account and available for withdrawal. Having the money instantly available in his deposit account, Rod uses his debit card to get gas and pick up supplies so he’s ready for another day on the farm.
Same-day pay
Fifty-seven percent of Americans say they are living paycheck to paycheck. Megan is one of them, and she is looking for a new job. As she’s searching through job boards, she sees a job offering same-day pay. This benefit gives employees the option to be paid a set percentage of their daily net wages on the same day the work is performed, rather than waiting until the end of their pay period. Using one of the instant payment networks, the money is deposited into a bank account shortly after their shift for employees to use immediately. The financial flexibility of employers offering same-day pay would allow Megan to pay for her bills and use her debit card stress-free, knowing she doesn't have to wait for the next monthly paycheck.
Take advantage of faster payments growth
The continued increase in the volume and value for faster payments means the window for financial institutions to gain a competitive advantage by offering instant payments is closing. Seventy-four percent of U.S. deposit accountholders can now receive instant payments through RTP or FedNow. Instant payment capabilities are rapidly becoming "table stakes" – essential for any financial institution or business to remain competitive and relevant. Don’t miss out on the opportunity.
SHAZAM®’s real-time credit receive service is an affordable, easy-to-implement entry point for financial institutions looking to bring instant payments to their accountholders. Our processing services with RTP and FedNow are certified to receive, verify and post real-time payments for financial institutions using the SHAZAM CoreTM platform.
Contact your SHAZAM client executive to learn more about SHAZAM’s FedNow and RTP credit receive processing services.