BofA RTP Volume Rises 48% After Limit Increase

Bank of America Corp. reported a significant rise in transaction volume on the RTP network, an instant payment service operated by The Clearing House Payments Co. LLC. The bank stated that volume increased 48% from January through July compared with the same period in 2025. Officials attribute much of this growth to the transaction limit increase, which was raised in 2025 from $1 million to $10 million.

BofA noted that the number of corporate transactions exceeding $1 million jumped 351% during the first seven months of the year.

Citi announced it is working with cryptocurrency platform Coinbase to offer stablecoin-acceptance capability to institutional clients of the bank through Spring by Citi, the bank’s payment-acceptance platform. The new service automatically converts digital currency into fiat, Citi says, adding the service will allow merchants to take stablecoin payments from more than 150 million users globally.

Payment-card manufacturer CPI Card Group Inc. renewed a multi-year service agreement with Vericast, a banking-technology reseller to financial institutions. CPI says it has worked with Vericast for 24 years.

Shopify Inc. said it now supports WebMCP for checkout, including Shop Pay for all eligible Shopify merchants. WebMCP is a developing standard to help organizations build and expose structured tools for AI agents, Google said.

Juniper Research forecasted that global softPOS installations will top 159 million by 2031, a 600% increase from the 22 million total in 2026.

Zelle, the instant payment service from Early Warning Services LLC, and Community Development Investors announced the inaugural class of participants in a 12-week small business accelerator program. Zelle also said it is picking up fares for NYC Ferry rides of five different routes each Thursday in October.

Transactions Network Services Inc. launched its bring-your-own-app service to enable operators to create and deploy their own customer-facing application for use on TNS’s Android-based unattended payment terminals.

Blockchain-technology platform Chainlink said it is developing links to allow financial institutions to connect systems and signing methods to Swift’s blockchain ledger via the Chainlink platform.

Payments-software developer Finastra launched Repair Recommendations, an AI-supported tool to help banks manage rising volumes of payment activity.