The Clearing House has raised the transaction limit on its RTP network to $10 million.
The increased transaction limit is a response to the growing demand for real-time payments and the emergence of new use cases on the network.
Over 270,000 businesses are currently utilizing the RTP network, and they have expressed the need for higher transaction limits to leverage faster payments for real estate transactions and supply chain payments.
New use cases expected to gain momentum include instant merchant settlements, payroll funding, and intercompany funds movement.