RTP (Real-Time Payments)

RTP, or Real-Time Payments, is a technology that allows individuals and businesses to send and receive money instantly, 24/7. Unlike traditional bank transfers that may take hours or days, RTP processes transactions instantly, providing immediate availability of funds. It uses secure, electronic messaging systems to facilitate quick payments, making it ideal for urgent or time-sensitive needs. RTP improves efficiency and cash flow management, and is widely used for things like bill payments, person-to-person transfers, and business transactions. Overall, it enhances the speed, convenience, and transparency of digital payments.