CryptoMediaClub
Thursday, October 30, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home All news

Popularity of Government Initiatives for Digital Payments Surges in U.S.

09.09.2024
A A
0
120
VIEWS
ShareShare

As of 2024, approximately 51% of U.S. businesses use the RTP network and FedNow to make instant payments. In two years, government digital payment services are expected to be used by about 68% of U.S. businesses.

RTP and FedNow for Digital Payments Gain Popularity

According to the U.S. Bank study, government digital payment initiatives are becoming increasingly popular among U.S. businesses and consumers. This year, more than half of American companies integrated the RTP network and the FedNow service.

RTP (real-time payments) and FedNow are real-time payment processing platforms developed by The Clearing House and the U.S. Federal Reserve, respectively. They’re available to all federally insured depository institutions. As of 2024, over 480 financial institutions in the U.S. use RTP, while more than 900 adopted FedNow.

U.S. Bank analysts found that in 2024, 51% of U.S. businesses integrated instant payment technology into their processes, transferring digital payments through RTP and FedNow. In comparison, only 42% did so in 2023, and approximately 38% in 2022.

The U.S. Bank report also highlighted that eight out of ten businesses surveyed expect to be using instant payments within the next two years. Furthemore, the study reveals that over 40% of companies with annual revenues exceeding $100 million are leveraging the RTP network.

The U.S. Bank study is based on a survey of more than 2,000 senior financial executives in the U.S.

The rising trend in digital payments is also underscored in the PYMNTS Intelligence report, which forecasts that within the next two years, at least 68% of U.S. businesses will be making instant payments via RTP or FedNow. Among the most active industries are:

  • consumer goods and retail (81%);
  • hospitality and entertainment (75%);
  • healthcare (70%).

However, despite the potential of digital payments to improve liquidity management and customer engagement, traditional payment methods are still more in demand. For example, check payments account for about 15% of B2B payments in retail and manufacturing, and 21% in real estate deals.

PYMNTS Intelligence analysts also emphasize that the popularity of instant payments is directly related to solving the technological and operational issues of implementing such systems. According to their report, the main barriers to adopting digital payments include:

  • high cost of system upgrades (82%);
  • risk of data leakage (48%);
  • lack of experience in combating financial crime (34%).

The FedNow service was officially launched in July 2023. The U.S. Federal Reserve positioned the service as an interim alternative to CBDCs.

Сообщение Popularity of Government Initiatives for Digital Payments Surges in U.S. появились сначала на CoinsPaid Media.

Share9Tweet6ShareSharePin2

Related Posts

Nordea to Offer BTC-Linked Synthetic ETPs From December — European Crypto Market Maturing?
All news

Nordea to Offer BTC-Linked Synthetic ETPs From December — European Crypto Market Maturing?

30.10.2025
0

Nordea, one of the largest banks in the Nordics, will begin offering Bitcoin-linked synthetic exchange-traded products (ETPs) to its customers...

Read moreDetails
Australian Police Seize $6M in Crypto After Analyst Exposes Manipulated Seed Phrase

Australian Police Seize $6M in Crypto After Analyst Exposes Manipulated Seed Phrase

30.10.2025
Cardano Price Prediction: Crypto Analysts Point to Break Above Symmetrical Triangle and Bullish Accumulation – Is ADA About to Hit $1 In November?

Cardano Price Prediction: Crypto Analysts Point to Break Above Symmetrical Triangle and Bullish Accumulation – Is ADA About to Hit $1 In November?

30.10.2025
CZ Vs Senator Warren: Binance Founder Threatens Lawsuit Over Money Laundering Claim: Report

CZ Vs Senator Warren: Binance Founder Threatens Lawsuit Over Money Laundering Claim: Report

30.10.2025
Alleged Mastermind Behind $31M FINTOCH Exit Scam Arrested in Thailand

Alleged Mastermind Behind $31M FINTOCH Exit Scam Arrested in Thailand

30.10.2025
Load More
Next Post
Last Chance To Buy! The Meme Games Gets Into Starting Position For Token Claim and DEX Listing 10 AM Tomorrow

Last Chance To Buy! The Meme Games Gets Into Starting Position For Token Claim and DEX Listing 10 AM Tomorrow

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Ethereum co-founder Vitalik Buterin moves $1M of ETH to Coinbase

Ethereum co-founder Vitalik Buterin moves $1M of ETH to Coinbase

2 years ago
Revolut Prepares to Provide Payment Services in UAE

Revolut Prepares to Provide Payment Services in UAE

2 months ago
Central Bank of Nigeria Lifts Ban on Banks and Crypto Companies Interaction

Central Bank of Nigeria Lifts Ban on Banks and Crypto Companies Interaction

2 years ago
Brian Armstrong promised me $100 in Bitcoin — so where is it?

Brian Armstrong promised me $100 in Bitcoin — so where is it?

3 years ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

Fed cancels December rate cut, 18% chance of hike, slowing Bitcoin rally

Cardano Price Prediction: Crypto Analysts Point to Break Above Symmetrical Triangle and Bullish Accumulation – Is ADA About to Hit $1 In November?

CZ Vs Senator Warren: Binance Founder Threatens Lawsuit Over Money Laundering Claim: Report

Alleged Mastermind Behind $31M FINTOCH Exit Scam Arrested in Thailand

Hong Kong Regulator Tightens Watch on Crypto Treasuries, Plans Public Awareness Push

Mastercard Is Finalizing $2B Deal for Crypto Settlement Platform Zerohash: Report

Trending

Nordea to Offer BTC-Linked Synthetic ETPs From December — European Crypto Market Maturing?
All news

Nordea to Offer BTC-Linked Synthetic ETPs From December — European Crypto Market Maturing?

30.10.2025
0

Nordea, one of the largest banks in the Nordics, will begin offering Bitcoin-linked synthetic exchange-traded products (ETPs)...

Why $13B in Bitcoin options expiring this week is a price nothing burger

Why $13B in Bitcoin options expiring this week is a price nothing burger

30.10.2025
Australian Police Seize $6M in Crypto After Analyst Exposes Manipulated Seed Phrase

Australian Police Seize $6M in Crypto After Analyst Exposes Manipulated Seed Phrase

30.10.2025
Fed cancels December rate cut, 18% chance of hike, slowing Bitcoin rally

Fed cancels December rate cut, 18% chance of hike, slowing Bitcoin rally

30.10.2025
Cardano Price Prediction: Crypto Analysts Point to Break Above Symmetrical Triangle and Bullish Accumulation – Is ADA About to Hit $1 In November?

Cardano Price Prediction: Crypto Analysts Point to Break Above Symmetrical Triangle and Bullish Accumulation – Is ADA About to Hit $1 In November?

30.10.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz