The Clearing House Says Higher Transaction Limit Drives Holiday Volume Increases

The Clearing House reportedly saw volume increases in real-time payments on its RTP® Network on the Memorial Day and July 4 weekends.

The network handled 860,268 transactions valued at $2.6 billion on Memorial Day, up from 667,061 transactions at $307.9 million during the holiday in 2024, and more than 1 million transactions valued at $4.9 billion on July 4, up from 773,171 transactions at $563.1 million the previous year, Digital Transactions reported Monday (Aug. 18).

James Colassano, senior vice president of product development and strategy at The Clearing House, told Digital Transactions that the RTP Network lets businesses “take payments and receive funds on their schedules.”

Colassano attributed the Memorial Day increase in part to companies moving money for cash concentration scheduled for that period, and the July 4 increase in part to retail-oriented activity and merchant settlement, according to the report.

The Clearing House’s increase of the RTP Network’s transaction limit from the previous $1 million to $10 million, which took effect Feb. 9, and companies’ embrace of that capability also contributed to the increases, Colassano said in the report.

The Clearing House announced July 17 that its RTP Network processed $481 billion in the second quarter, a 195% increase from the previous quarter, and handled more than 107 million transactions, up 8% from the previous quarter.

The company attributed the surge to the network’s increased transaction limit and to businesses and financial institutions embracing larger transactions for things like real estate deals, portfolio transfers and complex B2B payments.

“Businesses are shifting to move money faster, in larger amounts, and with greater control,” Colassano said in a July 17 press release. “The surge in high-value transactions shows the RTP Network—the leading U.S. instant payments system with a strong growth record—is not just meeting demand, but enabling new opportunities across the payments ecosystem.”

The PYMNTS Intelligence and The Clearing House collaboration “Instant Impact: Why Real-Time Payment Success Hinges on Optionality” found that there is growing demand for instant payments.

To ensure comprehensive market access, many financial institutions are opting for a “dual-rail” approach in which they connect to both the RTP Network and the FedNow® Service, according to the report.