The future of business payments is instant

For decades, business payments in the US have relied on ACH, Fedwire, and paper checks — trusted systems that have facilitated commerce at scale. However, as the speed of business accelerates, new real-time payment (RTP) options are emerging to complement these existing systems. These give businesses more flexibility and control over their cash flow, especially for small—to mid-sized transactions. With the introduction of FedNow, the US is laying the groundwork for a faster, more interoperable, and innovative payment ecosystem.

Airwallex is a global business, and over the last year, we’ve seen real-time payments reshape how businesses move money. For example, in Singapore, RTP transaction volume has more than doubled (105%+), the UK’s Faster Payments network has grown by nearly 65%, and Australia’s NPP launched last year and is already seeing rapid adoption. While some of this growth is driven by organic adoption among Airwallex customers, it also reflects a broader global shift toward instant, seamless transactions.

The US could follow a similar trajectory with FedNow, which is still in its early stages. However, it’s important to note that most RTP networks have lower transaction limits than ACH and wire transfers, making them better suited for small—to mid-sized payments for now. 

Why real-time payments are about more than speed

Speed matters, but the real story behind FedNow isn’t just about making payments faster but redefining how money moves. Businesses today need more control, flexibility, and efficiency in their financial operations, and legacy infrastructure isn’t always equipped to meet these evolving demands.

Nearly 88% of financial decision-makers in US companies report challenges with outdated systems, which lead to inefficiencies like manual operations and reconciliation delays. These limitations highlight the need for a modernized infrastructure that supports speed alongside reliability, automation, and seamless integration into broader financial workflows.

With FedNow, businesses can access instant, 24/7 transfers, helping them better manage liquidity, reduce payment delays, and improve operational efficiency. 

For example, businesses can use real-time payments to:

• Issue payroll instantly, providing gig workers with immediate access to their earnings.

• Settle insurance claims faster, ensuring customers can cover urgent expenses without delay.

• Pay suppliers quickly, helping retailers manage just-in-time inventory and avoid stockouts.

• Process emergency medical payments immediately so funds are available exactly when needed.

It’s about empowering businesses with real-time payment capabilities that fuel growth and resilience in an increasingly digital-first economy. 

Lessons from global RTP networks

Other countries have already proven how real-time payments transform economies. In 2023, Pix processed nearly 42 billion transactions in Brazil — more than credit and debit cards combined — while 75% of the population and 15 million businesses now rely on it. India’s UPI powers 75% of all retail digital payments, with 260 million users driving adoption across businesses of all sizes.

What’s most exciting is how these networks are expanding beyond domestic use. Pix now operates in Uruguay, Argentina, and Chile, while UPI is integrating with Singapore’s PayNow — setting the stage for seamless regional transactions. This surge in customer adoption fuels real transformation as businesses and consumers push financial institutions to support instant payments.

If the US follows suit and prioritizes interoperability, it could unlock faster, lower-cost global transactions, replacing slow and expensive wire transfers with real-time cross-border payments.

Challenges and opportunities in the US

Unlike other markets where governments have mandated real-time payments, the US has taken a hands-off approach, leaving businesses and financial institutions to drive adoption.

Real-time payments offer clear benefits, but awareness and usage remain limited, creating a chicken-and-egg problem: Businesses can’t adopt what isn’t widely available, and providers hesitate to prioritize what isn’t yet in demand. As adoption grows, so will the demand for faster, more efficient transactions.

The good news is that businesses are increasingly looking to streamline operations, improve cash flow, and reduce payment friction. As more companies recognize RTP’s cost savings and efficiencies, adoption will accelerate, especially as fintech and payment providers develop new use cases that drive value.

FedNow lays the groundwork for instant payments, but its impact depends on how effectively businesses and financial service providers integrate it into broader payment ecosystems. Unlike consumer-focused apps requiring stored balances, FedNow moves funds seamlessly between accounts, making real-time payments more accessible for businesses.

Airwallex sees an opportunity here. We believe businesses should have the flexibility to move money efficiently, whether domestically or globally. That’s why we’re integrating real-time payment networks where they add the most value to our customers.

What this means for Airwallex customers

As part of this evolution, we’re excited to share that Airwallex US customers can now send instant USD transfers via FedNow through our WebApp and API.

Here’s what that means:

• Transaction limit: Up to $500,000 per transfer

• Cutoff time: None — transfers available 24/7, 365 days a year

• Settlement time: Instant

This is a major step toward a future where business payments are frictionless, on-demand, and borderless.

What’s next?

FedNow is just the beginning. Over the next decade, real-time payments will claim a growing piece of the payment pie, and businesses that embrace them early will have a head start. The real transformation will come when these systems evolve beyond domestic transactions to support seamless global money movement — and that’s exactly where Airwallex is focused.

We’re not just integrating real-time payments; we’re helping shape the next generation of financial infrastructure. If your business is ready to move faster and smarter, sign up for a free Airwallex Business Account. 

The future of payments is instant, but it’s also global, efficient, and built for scale. FedNow gives you the control and flexibility to manage your cash flow more efficiently.