RTP Isn’t Just Speed — It’s Control | Bank of America Explains

Why It Matters

The rollout gives corporations real‑time visibility and control over cash, sharpening competitive advantage and reducing FX risk as payments become instantaneous across borders.

Key Takeaways

• Real‑time payments are entering phase two: B2C focus
• Corporates seek control, cash‑flow visibility via instant payment tools
• “Requests for Pay” enables faster outbound and inbound transactions
• Phase three will target B2B payments after infrastructure modernization
• Bank of America offers guaranteed FX rates to mitigate currency volatility

Summary

Bank of America’s global payments head AJ McCrae outlines how real‑time payments are moving beyond speed to become a tool for cash‑flow control.

He describes a three‑phase adoption curve. Phase 1 was experimentation; phase 2, now underway, focuses on business‑to‑consumer (B2C) use cases such as faster insurance claim payouts, payroll, and airline refunds. The firm is also promoting “Requests for Pay,” which accelerates both outgoing and incoming transfers.

McCrae cites weekend M&A settlements and cross‑border payments settled in minutes as proof points, and highlights a new guaranteed‑rate FX product that locks in currency prices to curb volatility.

For treasurers, the shift promises tighter daily cash management, 24/7 transaction capability, and risk‑adjusted cost efficiencies, while paving the way for a phase 3 B2B surge once corporate infrastructure modernizes.

Original Description

Real-time payments (RTP) have moved beyond experimentation — but where is the real value now?

AJ McCray, who leads global payments product management at Bank of America across 37 countries, explains how RTP has evolved from early testing into full-scale adoption across business-to-consumer use cases.

In “phase two,” real-time payments are improving customer experience through faster insurance claims, quicker payroll processing, and instant refunds. But according to McCray, “phase three” is where the true payment volume lives: B2B.

The shift to B2B real-time payments faces two key challenges — corporate system modernisation and a narrow understanding of what “real-time” really means. RTP is not just about paying faster; it’s about precision control. Treasurers can execute payments 24/7, including weekends and after hours, enabling tighter liquidity management and new use cases like weekend M&A settlements.

The conversation also explores Request to Pay (R2P), reconciliation efficiency, and the push toward cross-border real-time payments with consumer-grade transparency — clear status tracking, exact timing, and upfront pricing.

Beyond RTP, foreign exchange remains central. Bank of America’s network supports FX across 140+ currencies, and tools like Guaranteed Rate help corporates manage volatility, reduce risk exposure, and improve operational efficiency.

This interview is essential viewing for treasury leaders, corporate finance teams, payments strategists, and fintech professionals navigating RTP adoption, liquidity control, and FX risk management.

Explore the complete conversation with AJ McCray on real-time payments, B2B adoption, cross-border transparency, and FX strategy :

https://ffnews.com/fintech-tv/event/event-videos-2025/sibos-2025/bank-of-america-on-the-real-value-of-rtp/

@SibosTV @BankofAmerica