[…] In many ways, July 20 begins the countdown to ubiquitous instant account-to-account payments in the U.S. TCH with RTP® has been live for six years and counts 274 financial institutions and 65% of U.S. deposits connected to its rail as important milestones of its own. But as even TCH and its member banks will admit, traction around use cases has been scattered, the number of transactions low. TCH with RTP® hasn’t yet achieved the critical mass needed to ignite its payments platform. The introduction of FedNow creates competition for RTP® volume and potentially the real-time payments infrastructure for new use cases like merchant payments. […]