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CASE STUDY

TCH case study – updated 2026

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Introduction

In 2016, The Clearing House and Mastercard worked together to launch the RTP® network in the U.S.; a new, ubiquitous real-time payment system designed to meet evolving demands for faster, more efficient, and more secure instant payments. 

The introduction of instant payment capabilities in 2017 represented the first innovation of its kind in the U.S. for 40 years and was part of a broader industry effort to modernize the country’s payments ecosystem.

In 2024, The Clearing House and Mastercard announced an extension to the partnership. The goal of the long-term relationship is to further empower people and businesses to embrace the digital economy through instant payments, expanding access to traditional and non-traditional financial services that power the economy 24 hours a day, seven days a week.

Challenge

The U.S. market encompasses thousands of participating financial institutions, ranging from some of the world’s largest banks through to smaller credit unions and community banks. Key factors influencing the roll out of real time payments include:

  • Ability to meet demand for faster, accessible systems. Financial institutions face growing customer demand for real-time, convenient access to financial services. They need capabilities that would let them optimize offerings - either by delivering these services directly or by partnering with fintechs to maintain customer loyalty and avoid disintermediation. This transformation is critical for competing with newer digital players.

There was a clear directive from key stakeholders for a payments system that was able to cater to increasing demand for digital, ensure accessibility, and drive innovation and competition across the market.

Lee Alexander, CIO of TCH
  • Persistent reliance on legacy payments, like checks and cash, despite growing digital adoption post-pandemic. 17% of all payments are still made by cash or check. This poses risks, including slow processing and fraud – 63% of those using checks experienced attempted or actual check fraud in 2024, the most of any payment method.
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Execution

The Clearing House partnered with Mastercard to leverage Mastercard’s Instant Payments Services software to power the RTP network. Real-time technology sits at the center of the network and has been designed to work alongside and between conventional payments and settlement systems.

Key elements of the implementation include:

  • Broad reach and accessibility. Ensuring accessibility for the many financial institutions across the U.S. There are currently more than 1,200 financial institutions participating in the RTP network, providing access to over 74% of U.S. Direct Deposit Accounts.
  • Multiple use cases. The network supports a broad range of online and mobile payment channels. It offers consumers and businesses real-time options to execute a wide range of needs, including account-to-account (A2A) transfers, digital wallet defunding, gig economy payouts, payroll disbursements, and merchant settlements, to name just a few.  
  • Technical collaboration. Mastercard collaborates with The Clearing House to provide product and engineering expertise, and the capacity to maintain and enhance the RTP network. This includes the provision of a dedicated team of product and delivery experts to support service maintenance, enhancements, and live service performance.

Results

The RTP network, which now accounts for 98% of all bank-to bank instant payments in the U.S., has transformed the financial landscape across the country, enabling swifter, smarter payments that are a key driver for economic growth.

Lee Alexander, CIO, TCH

The RTP network is growing and transforming the U.S. market.

  • Financial processes that used to take days can now be completed within seconds.
  • Adoption and volume are growing significantly. The RTP network processes more than 1.5 million payments each day and more than 340,000 American businesses are accessing the network to power supply chains, pay vendors, settle bills, and streamline merchant payments.
  • The value of transactions is rising significantly. In Q1 2026, the RTP network processed $481 billion in payments; a 195% leap in value from Q1 2025.
  • Businesses and financial institutions are now able to send and receive larger sums because of the network’s increased limit of $10 million. The average transaction payment size skyrocketed from just $842 in January 2025 to more than $4,200 by April 2026. 

The higher transaction limit reflects increased user confidence in the system. This enhancement has transformed how money moves. From real estate deals to portfolio transfers and complex B2B payments, the network is handling major transactions with instant speed and guaranteed settlement.

Lee Alexander, CIO, TCH
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The key takeaway

The introduction of the RTP network has unified the U.S. payments market, expanding payment choice and enabling 24/7, 365-day access to instant payment services.

Access to instant payments has facilitated a host of innovative new use cases that have broadened access to financial services for individuals and businesses, for example earned wage access, which supports people to avoid debt and budget more effectively. In addition, providing optionality for faster transfers between bank accounts and mobile wallets is helping to expand commerce, increase access to bank accounts, and expand bank deposits.

Importantly, the RTP network ultimately provides more options for instant payments that underpin accessibility, speed, and reliability in a highly competitive market while also preserving choice for users in a multi-rail environment.

Our continued partnership with Mastercard will see the roll out the next generation of instant payment capabilities for financial institutions and their customers.

Lee Alexander, CIO, TCH

About The Clearing House

The Clearing House operates U.S-based payments networks that clear and settle more than $2 trillion each day through wire, ACH, check image, and real-time payments. It is the nation's most experienced payments company, with a long track record of providing secure and reliable systems, payments innovation, and strategic thought leadership to financial institutions. In 2017, The Clearing House revolutionized U.S. payments by introducing the RTP® network, which supports the immediate clearing and settlement of payments, along with the ability to exchange related payment information across the same secure channel. These RTP capabilities enable all financial institutions to offer safer, faster, and smarter digital transaction services for their corporate and retail customers. Learn more at www.theclearinghouse.org.

About Mastercard

Mastercard has been at the forefront of real-time payments innovation for decades, partnering with governments and organizations worldwide to enable instant transactions. Mastercard is building the next generation of interoperable systems, designed to support multi-currency and seamless cross-border payments while connecting traditional and digital accounts to transform payment experiences. With its expertise in value added services, Mastercard is creating a more seamless, secure, and resilient ecosystem for everyone.  Learn more at Account-to-Account Solutions - Powering real-time and A2A payments.

[Key stats to feature]

  • $481 billion in payments in Q1 2026; a 195% leap in value from Q1 2025
  • More than 1,200 participating financial institutions, reaching 74% of U.S. demand deposit accounts (DDAs)
  • Average payment size grew from $842 in January 2025 to over $4,200 in April 2026.

Read more about our services

Mastercard has been at the forefront of A2A and real‑time payments innovation for decades, and is creating a more seamless, secure, and resilient ecosystem for everyone.

Learn more