RTP — Real-Time Payments - Introduction to Tazapay

RTP is operated by The Clearing House (TCH), a private payments company owned by large US banks. Launched in November 2017, it was the first new payment rail built in the US in over 40 years. RTP enables instant, irrevocable credit transfers between participating institutions, available 24/7/365. As of early 2026, RTP reaches approximately 65% of US bank accounts.

B2B and B2C

Field	Details
Supported Modes	B2B, B2C
Supported Currencies	USD
Network Participant	RTP (The Clearing House)
Channels	US banks participating in the RTP network
Cutoff for Initiating Payout	No cutoff — 24/7/365
Mandatory Data Requirements for Merchant / Entity	Business: Registration Name, Type, Registration number, Registration date, Registration address, Email, Phone number. UBO: First name, Last name, ID (National ID / Passport), Date of birth, Ownership %, Roles, Address, Phone number, Email
Mandatory Data Requirements for Beneficiary	Account holder name (as per bank account), Account number, Bank name, ABA code
Beneficiary Statement Narrative	Ultimate Remitter name + memo / transaction description field (not guaranteed — subject to recipient bank)
Limits	10,000,000 USD per transaction
Settlement Time	Real time
Rail Availability	24/7/365

Mandatory Data Fields Reference

The following fields are required for merchant payout initiation.

Merchant / Entity Requirements

Entity

Field	Description
name	Legal entity name
type	e.g. Company, LLP etc
Registration number	Company registration / incorporation number
Registration date	Date of incorporation
Registration address	Registered address of the entity
Email	Entity contact email
Phone number	Entity contact phone number

UBO (Ultimate Beneficial Owner)

Field	Description
first_name	UBO first name
last_name	UBO last name
ID	National ID or Passport number
date_of_birth	Format: DD-MM-YYYY
ownership_percentage	Ownership stake held by this UBO
roles	e.g. director, shareholder, beneficial_owner
Address	UBO residential address
Phone number	UBO contact phone
Email	UBO contact email

Beneficiary Requirements

Field	Description
Account holder name	Name as it appears on the bank account
Account number	US bank account number
Bank name	Name of the receiving bank
ABA code	American Bankers Association routing number (9 digits)

Overview

Coverage

Payout Network

Creating a Payout

Local Guides

Cross-border USD Wire (via Fedwire/SWIFT)

Managing FX

Capabilities

Reversals

RTP — Real-Time Payments

B2B and B2C

Mandatory Data Fields Reference

Merchant / Entity Requirements

Entity

UBO (Ultimate Beneficial Owner)

Beneficiary Requirements

​B2B and B2C

​Mandatory Data Fields Reference

​Merchant / Entity Requirements

​Entity

​UBO (Ultimate Beneficial Owner)

​Beneficiary Requirements

B2B and B2C

Mandatory Data Fields Reference

Merchant / Entity Requirements

Entity

UBO (Ultimate Beneficial Owner)

Beneficiary Requirements