North America Levels Up Real-Time Payments With Bigger Limits

In the U.S. in June, Comerica Bank became one of the first institutions to adopt The Clearing House’s updated on-behalf-of (OBO) payments framework. Enabled through a partnership with Monex USA, this model allows account holders to send funds via the RTP^® network on someone else’s behalf, supporting new business use cases such as payroll and marketplace disbursements. The OBO framework also enhances transparency and compliance for instant payments.

Meanwhile, the FedNow^® Service is opening the door to higher-value transactions. June infrastructure upgrades have increased the transaction limit from $500,000 to $1 million and introduced customizable account activity thresholds, giving financial institutions (FIs) more control over risk management based on customer segment.

Technology partners are also helping to integrate real-time payments into everyday experiences. In one example, a credit union member used a merchant-generated QR code to complete a real-time payment via the FedNow rail, showcasing the role of universal QR standards in enabling seamless retail transactions.

In Canada, Accept/Pay Global is extending real-time functionality to enterprise clients through an API-powered Interac solution. The company tailored the platform for enterprises seeking to streamline high-volume transactions in sectors such as lending, payroll and insurance.

Together, these advances signal that real-time payments are gaining ground across borders and use cases. As networks expand capabilities and adoption grows, the future of payments is increasingly instant.

About the Real-Time Payments World Map

The “Real-Time Payments World Map,” a collaboration with The Clearing House, examines the latest developments fueling the rapid expansion of instant transactions worldwide.