A new era of real-time, higher-value payments has begun. Today, The Clearing House and The Bank of New York Mellon Corporation  announced the successful completion of the largest instant payment in U.S. history and the first-ever payment on the RTP® network exceeding $1 million, following the recent increase in the network’s transaction limit.

The $10 million inter-company liquidity management payment, from a leading, global transfer agent, Computershare, to an account at another financial institution, marks a significant milestone in the evolution of instant payments, unlocking new opportunities for businesses to move money faster, optimize cash flow, and streamline financial operations.

On February 9, the RTP network’s transaction limit increased from $1 million to $10 million, enabling businesses to send larger payments instantly, 24/7. This landmark payment from Computershare highlights the growing demand for higher- value instant payments, providing a seamless alternative to traditional wire transfers and checks while improving liquidity management in today’s fast-paced economy. Currently, over 285,000 businesses rely on the RTP network each month to send and receive payments.

“This achievement represents a major step forward in modernizing high-value payments for our clients,” said Jennifer Barker, Global Head of Treasury Services and Depositary Receipts at BNY. “By leveraging the expanded transaction limits on the RTP network and BNY’s position at the forefront of capital markets, we are empowering our clients to operate with greater agility and supporting their long-term financial success. It’s another example of how BNY is enhancing payment solutions to meet evolving business needs with speed, transparency, and efficiency.”

For corporate customers, real-time higher-value payments are critical for managing large supplier transactions, moving wealth management or brokerage funds between accounts, funding payrolls, responding to unplanned liquidity needs, and ensuring the immediate settlement of obligations. The RTP network provides businesses with 24/7 availability, immediate funds availability, and enhanced payment transparency – offering tools that are crucial for navigating today’s complex financial landscape.

“In our industry, the ability to move large payments instantly, securely, and reliably is crucial,” said Ann Bowering, CEO of Computershare Issuer Services, North America. “With real-time payments, we can settle higher-value transactions immediately, reducing counterparty risk and improving overall working capital efficiency. This level of speed and certainty was not possible before, and this is an exciting step forward for how we can potentially deliver solutions to our corporate clients.”

“The ability to send higher-value transactions over the RTP network is a valuable payment option for corporate customers,” said David Watson, President and CEO of The Clearing House. “After trailblazing the path for instant payments in the United States with the RTP network's launch more than seven years ago, we continue to adapt to meet industry demands. The increased transaction limit is just one example, and we'll continue to evolve as the RTP network continues to grow.