US Real-Time Payments Systems See Surge in Q2 Activity

Real-time payment systems in the US saw significant growth in Q2, with the Federal Reserve's FedNow system experiencing a 63% increase in transaction volume to 2.1 million payments. The Clearing House's RTP network, however, accounted for 98% of real-time payments in the US, processing $481 billion in payments during Q2. Despite slower progress for FedNow, the system has attracted participation from around 1,400 banks and credit unions, with the value of its average daily volume more than quintupling to $2.7 billion.

Real-time payment systems in the United States saw significant growth in the second quarter of 2025, with both the Federal Reserve's FedNow system and The Clearing House's RTP network reporting substantial increases in transaction volumes. The Federal Reserve's FedNow system experienced a 63% increase in transaction volume to 2.1 million payments, according to its latest release [1]. Meanwhile, The Clearing House's RTP network processed $481 billion in payments during the second quarter, a 195% increase over the prior quarter [3]. Despite the slower progress of FedNow, it has attracted participation from around 1,400 banks and credit unions, with the value of its average daily volume more than quintupling to $2.7 billion [1].

The Clearing House, owned by some of the world's largest banks, continues to dominate the real-time payments landscape in the U.S., accounting for 98% of the second-quarter activity [1]. The RTP network processed $481 billion in payments during the second quarter, nearly tripling the amount it handled in the first quarter [1]. The surge in volume is attributed to the network's increased transaction limit of $10 million, introduced in February [3].

While FedNow has shown promising growth, it still lags behind RTP in terms of market share and transaction volume. However, its launch has spurred more activity on both systems, indicating a potential for increased competition and innovation in the real-time payments market [1]. The Federal Reserve's system is designed to cater to smaller financial institutions that may be reluctant to join the real-time payments system operated by their larger competitors [1].

ACI Worldwide, a global payments leader, is also positioned to benefit from the real-time payments revolution. With its strategic initiatives centered on product innovation, cloud-native infrastructure, and global partnerships, ACI is reshaping its trajectory in the $2.5 trillion real-time payments market [2]. The company's Q1 2025 results reflect the success of its market expansion strategy, with revenue growing by 25% year-over-year and adjusted EBITDA expanding by 95% year-over-year [2].

Investors are closely watching ACI Worldwide's Q2 2025 earnings report, set to be released on August 7, 2025. The company's strategic alignment with the real-time payments revolution positions it as a high-conviction growth stock, with key metrics to watch including recurring revenue growth, adjusted EBITDA margins, and client acquisition cost payback periods [2].

In conclusion, the second quarter of 2025 saw significant growth in real-time payment systems in the U.S., with both FedNow and RTP networks reporting substantial increases in transaction volumes. The continued expansion and innovation in this market are likely to drive further growth and competition in the coming quarters.

References:
[1] https://www.paymentsdive.com/news/instant-payments-systems-rtp-fednow/753560/
[2] https://www.ainvest.com/news/aci-worldwide-q2-2025-earnings-strategic-inflection-point-payments-innovation-shareholder-2507/
[3] https://www.pymnts.com/real-time-payments/2025/rtps-increased-transaction-limit-drives-481-billion-in-payments/