With the FedNow^® Service by the Federal Reserve and the RTP^® Service by The Clearing House, financial institutions have a way to move funds instantly. At the center of this transformation is Send, the capability that allows institutions to push payments instantly, 24/7/365. This isn’t just a faster payment rail; it’s a fundamental shift in how money flows through the economy.

As of early 2026, the daily average value of payments processed through instant payments was approximately $6.7 billion, which underscores the adoption and significance in today’s market.

As we explore the impact of Instant Payments Send, it's important to understand how this innovation fundamentally changes the way credit unions operate and serve their members. 

What is Instant Payment Send? 

Instant Payment Send enables the transfer of money instantly by pushing a payment directly from the sender’s financial institution to the receiver’s financial institution over secure, always-on networks. 

When a customer initiates a payment through their credit union, the sending institution submits the transaction to the FedNow Service or the RTP Service, which validates the request, checks for sufficient funds and routes it to the receiving institution in real time. Within seconds, the receiving institution accepts the payment, funds are settled immediately between the two institutions and the recipient gains full access to the money. 

Because both systems operate 24/7/365 and payments are final and irrevocable, sending money via instant payments eliminates uncertainty around potential delays or financial institution cut-off times common with traditional payment methods. 

Instant payments are enabling credit unions to fund approved auto loans within seconds. Transforming what used to be a slow, multi-day process into a real-time experience carries important benefits, including:

• Consumers – no waiting for financing to clear, the ability to act quickly on a purchase and a smoother, more transparent experience 
• Dealerships – Immediate confirmation of funds, faster inventory turnover and reduced risk of delayed or failed transactions 
• Credit unions – faster loan origination and disbursement, lower reliance on costly wire transfers, the ability to deliver an instant, seamless experience

While loan funding has become a critical use case, there are well over 100 identified use cases for instant payments. From instant delivery of funds from one member to another to payment of a credit union’s own accounts, instant payments are changing the way money moves.

Instant Payment Send is no longer a nice-to-have. It has become table stakes for any credit union. While many institutions are still framing instant payments as optional, the reality is this: the market has already shifted to the instant funds model. Every day you don’t leverage instant payments, you’re:

• Delivering a slower experience than competitors who’ve already made the leap
• Missing opportunities to embed payments directly into your member journey
• Losing member transactions to competitors ready to provide this service 

The winners in this new environment won’t just support instant payments – they’ll innovate around them, building a compelling member experience and durable competitive advantage. The question is whether your credit union is ready. Contact Catalyst today to take the first step in sending instant payments.