The First New Payments System in the U.S. in
40 Years. A Fast and Intelligent Way to Send
and Receive Real-Time Payments
RTP is an entirely new payments and messaging system that allows participants to send and receive funds immediately at any time — 24 hours a day, 7 days a week, 365 days a year. Along with instant delivery and availability of funds to the receiver, the sender is notified of funds delivery. RTP represents the latest phase in the evolution of digital payments.
RTP’s robust messaging capabilities allow for two-way dialogue between sender and receiver. This system clarifies payment details and facilitates dialogue between parties. It provides an audit trail of all correspondence while reducing costly check and cash transactions.
Avoid Supply Chain Disruption
Billing and Collection Activities
Deliver Immediate Payment When Required
Put Exception and Dispute Resolution on the Fast Track
The convergence of mobile technology and digital commerce is leading to real-time payment innovation around the world. While the United States market has seen a recent increase in the development of innovative payment products, RTP® represents a new phase in the evolution of digital payments, marking the creation of the first new payment system in more than 40 years.
How can faster payments support your objectives of meeting payment deadlines, improving customer satisfaction, reducing costs, and streamlining your internal processes? The first step is to understand emerging payment types and how they may answer your business needs.
The Clearing House is a banking association and payments company, owned by 25 U.S. banks, including PNC. It launched RTP in November 2017.
Currently, credit transactions up to $1,000,000 per item are eligible.
No, users of the RTP system can initiate payments from their existing accounts.
While speed is a key benefit, real-time payment confirmation and messaging capabilities also provide the ability to include more information with the transaction, such as remittance data and references to external data. RTP also facilitates enhanced messaging between participants, with Request for Information (RFI), payment, and Request for Payment (RFP) messaging.
For product and service related questions, please contact your Treasury Management Officer or Treasury Management Client Care (TMCC) at 1-800-669-1518.
If you have questions or would like additional information, please fill out this short form so we can get in touch with you. By completing this form, you are authorizing us to contact you (via email and/or phone) to answer your questions and provide information about Real Time Payments.
PNC Treasury Management serves companies with over $5 million in annual revenue.
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When you send a payment, the availability of funds in the recipient’s account will depend on the funds availability policy of the recipient’s financial institution. Limitations to availability may apply, including “cut-off times” by which items need to be deposited to be included for processing on that business day.
PINACLE is a registered mark of The PNC Financial Services Group, Inc. (“PNC”).
RTP is a registered mark of The Clearing House Payments Company LLC.
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