Meeting consumer demand: Real-time payments use cases

Since TCH’s launch of its RTP® network in 2017, the first new payments network in 40 years, adoption has been steady, but slower than it should be for a variety of reasons, including uncertainties about profitability and a reactive stance to consumer demand, as well as a lack of imagination about all the ways real-time payments could act as a foundation for new products.

Real-time payments offer numerous benefits for consumers, including speed, convenience, and security. Consumer demand exists and the benefits are undeniable, so the field remains wide open for innovative opportunities to leverage—and monetize—real-time payments. How exactly then can financial institutions best leverage real-time payments to add speed, convenience, safety, and value for consumers—and increase revenue?

Drawing out consumer demand for real-time payments

Consumers have had a taste of faster/instant payments and they like it— 41% are even willing to pay for the added speed and convenience in some cases, for example, paying a fee to transfer money from their P2P app instantly as opposed to waiting 2-3 days for an ACH transfer to their bank account.


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