BNY completes largest instant payment in US history
13 February 2025 US
Image: scaliger/stock.adobe.com
The Clearing House, in conjunction with BNY, has successfully completed the largest instant payment in US history and the first-ever payment on the Real-Time Payment (RTP) network exceeding US$1 million.
Following the recent increase in the network’s transaction limit, the US$10 million inter-company liquidity management payment was completed between Computershare, a global transfer agent, to an account at another financial institution.
This payment comes after the RTP network’s transaction limit increased from US$1 million to US$10 million on 9 February, enabling businesses to send larger payments instantly and marking a milestone in the evolution of instant payments and liquidity management.
Jennifer Barker, global head of treasury services and depositary receipts at BNY, comments on the achievement: “By leveraging the expanded transaction limits on the RTP network and BNY’s position at the forefront of capital markets, we are empowering our clients to operate with greater agility and support their long-term financial success.”
“The ability to send higher-value transactions over the RTP network is a valuable payment option for corporate customers. After trailblazing the path for instant payments in the United States with the RTP network's launch more than seven years ago, we continue to adapt to meet industry demands,” adds David Watson, president and CEO of The Clearing House.
Following the recent increase in the network’s transaction limit, the US$10 million inter-company liquidity management payment was completed between Computershare, a global transfer agent, to an account at another financial institution.
This payment comes after the RTP network’s transaction limit increased from US$1 million to US$10 million on 9 February, enabling businesses to send larger payments instantly and marking a milestone in the evolution of instant payments and liquidity management.
Jennifer Barker, global head of treasury services and depositary receipts at BNY, comments on the achievement: “By leveraging the expanded transaction limits on the RTP network and BNY’s position at the forefront of capital markets, we are empowering our clients to operate with greater agility and support their long-term financial success.”
“The ability to send higher-value transactions over the RTP network is a valuable payment option for corporate customers. After trailblazing the path for instant payments in the United States with the RTP network's launch more than seven years ago, we continue to adapt to meet industry demands,” adds David Watson, president and CEO of The Clearing House.
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