OPN Featured in Q2 White Paper, “Developing Your Instant Payments Send Strategy”

We’re excited to share Open Payment Network’s (OPN) recent feature in Q2’s white paper updating the industry on instant payment advancements in the U.S.

The report highlights the swift expansion of The Clearing House’s Real-Time Payments (RTP®) network alongside the Federal Reserve’s FedNow® Service. Currently, RTP connects over 750 financial institutions (FIs), covering roughly 70% of U.S. bank accounts and processing close to a million transactions daily. Since its 2023 debut, FedNow has added more than 1,000 institutions. Industry experts anticipate a major increase in instant payment adoption by 2025, with transaction values projected to rise by 289% between 2023 and 2030.

For many financial institutions, especially smaller banks and credit unions, a major hurdle to adopting instant payment-sending capabilities has been technological limitations, as many technology providers initially focused on receive-only functions. OPN bridges the technology gap for FIs by seamlessly connecting them to both the RTP and FedNow networks, enabling them to send, receive, and request payments with ease. By offering flexibility in setup and integration, OPN empowers FIs to overcome the barriers to real-time payments. As Bradley Wilkes, CEO and co-founder of OPN, noted, these networks foster a competitive landscape, giving FIs access to a broad marketplace of service providers to meet their unique needs. With OPN, FIs can quickly leverage advancements in payment technology, driving wider adoption and enhancing the customer experience.

As real-time payments expand in B2B and B2C spaces, OPN helps FIs strengthen their digital payment strategies by providing seamless connectivity to RTP and FedNow, enhancing payment speed, reliability, and flexibility. This enables FIs to meet growing customer expectations, reduce friction in payment processing, and unlock new opportunities for customer engagement and service innovation. Instant payments are the future, and OPN is here to help institutions embrace this transformative technology.

Download the “Developing Your Instant Payment Send Strategy” white paper to learn more. If you want to learn more about our solution or discuss these industry trends further, please contact us today.

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