Volante Technologies, one of the worlds largest cloud payment processors, and PaaS provider, is seeking to take the Real Time Integrated Payables service to an entirely new level. First launched in 2017 by the Clearing House,the system which is based on “real time payments rail” technology, an RTP capability can process up to $100,000 per transaction, and is accessible to 75% of (DDAs), in the United States alone. According to records, they account for more than 160 million transactions, with a quarter originating from major travel destinations like India.
As the backbone of the financial processing network, RTPs are relied on heavily by banking institutions and payment processors around the globe. Consisting of an automated network of split second funds confirmations, they have been at the forefront of ensuring billions in revenues for countless users,while deterring the occurrences of bounced checks,failed transactions and merchant losses over the years. Volante, whose clients have used older processing methods such as ACH,wire transfers,and manual check clearance, has plans to take over the space as a route to induct tens of thousands of institutions connected to the multi-functional platform over the years. Currently,the RTP network continues to gain traction in countries such as Europe,Asia, and the United States, as well as forty others that will continue to grow as the demand exceeds its reach.
