Real-time payments users report higher returns than nonusers, study finds

Companies using real-time payment rails report materially higher returns than businesses that have not adopted them, according to a PYMNTS Intelligence report produced with The Clearing House. The study found users of The Clearing House’s RTP network rated its return on investment at 71 out of 100, compared with 52 among businesses that had never used it.

The June Real-Time Payments Tracker, titled “The Real-Time Perception Gap: How Experience Is Driving the Next Phase of Instant Payments Adoption,” found a similar split for the Federal Reserve’s FedNow Service. Businesses using FedNow rated its return on investment at 73, while nonusers gave it a score of 52.

The findings point to a central issue for adoption: companies that have incorporated instant settlement into daily finance operations appear to value it more highly than those assessing it from outside. Real-time payment systems move funds and payment messages immediately, allowing businesses to treat settlement as part of liquidity management, supplier payment timing and reconciliation rather than as a delayed back-office process.

Among businesses already using instant payments, 85% cited faster access to funds for vendors and suppliers, according to the report. A further 82% reported quicker transaction processing, 81% pointed to payment availability around the clock, 79% cited better cash flow management and 76% said reconciliation became more efficient.

PYMNTS Intelligence and The Clearing House also found that 78% of instant payments users said the rails strengthened supplier relationships. The same share said the systems improved their ability to obtain early-payment discounts, while 77% said they improved competitive positioning.

Existing systems remain a barrier

The report also shows why adoption is not determined by speed alone. Many corporate finance departments already have payment processes that work well enough for routine needs, reducing the urgency to change systems.

Among companies that do not use instant payments, 24% said their current methods are sufficient, according to the study. That view is supported by broader operational data in the report: 94% of businesses said most payments arrive on time, and 86% described their accounts payable processes as efficient.

For finance chiefs and treasurers, the decision therefore includes more than comparing an instant payment with ACH or a check. Companies must weigh implementation costs, staff training, workflow changes and technology integration against the incremental value of immediate settlement.

Integration is a decisive factor. Real-time payment rails need to connect with enterprise resource planning software, treasury management systems and accounting platforms if companies are to use the associated data, liquidity and reconciliation benefits. Without that connection, an immediate payment can still leave employees handling separate data entry, manual approvals or parallel reconciliation routines.

The business case varies by use. Faster supplier payments may help a company time disbursements more precisely or qualify for discounts. Immediate visibility into balances can support treasury teams managing liquidity. Automated reconciliation can cut administrative work tied to confirming whether invoices were paid and correctly applied.

Cost remains a constraint, especially for smaller businesses. The report found that 19% of businesses overall said lower payment costs or fees would most improve payment performance. Among companies with annual revenue of $1 million to $5 million, that figure rose to 28%.

Despite those barriers, the report found continued movement toward adoption. PYMNTS Intelligence and The Clearing House said 29% of businesses planned to add real-time payment capabilities within six months of being surveyed. Over a longer period, 86% said they expect to adopt the RTP network eventually, including 53% that expect to do so within two years.

This story draws on original reporting from PYMNTS.