Real-Time Payments (RTP)
Payment systems that process and settle transactions within seconds, any time of day, including evenings, weekends, and bank holidays.
Also known as: RTP, instant payment, immediate payment
Last reviewed: 10 June 2026
Real-time payment (RTP) systems process and settle transfers almost instantly, 24/7/365. Examples include the UK's Faster Payments, the US RTP network (The Clearing House), FedNow, India's UPI, Brazil's PIX, the EU's SCT Inst, and Australia's NPP. They have largely displaced slower batch-processing systems for everyday consumer transfers.
The consumer benefits are clear — instant confirmation, no waiting for business hours — but the speed also raises fraud risk. A fraudster receiving an RTP transfer can withdraw or further transfer funds within seconds of arrival, making recovery nearly impossible. Fraudsters exploit RTP urgency to pressure victims: 'you must pay right now or the offer expires.'
Regulators and payment operators are increasingly building fraud safeguards into RTP systems — transaction value limits, mandatory cooling-off periods for new payees, and confirmation of payee — but these protections vary significantly by country and provider.