The May 2024 report highlights the rapid growth of real-time payments, driven by mobile and digital adoption, surpassing traditional rails like wire and ACH. Businesses cite settlement speed as the top payment gap, requiring send capabilities to complement receipt functions. Overlay services, particularly Request for Payment, present untapped opportunities. While RTP currently leads in volume, nearly 80% of businesses value FedNow, making both essential. Payment hub adoption is rising, with vendors seeing over 15% growth. Legacy infrastructure remains a hurdle, and partnering with technical solution providers can accelerate modernization and enhance competitive differentiation.

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