FedNow processed more than $850 billion in total value during 2025. That figure represents growth exceeding 2,100 percent from approximately $38 billion in 2024. Approximately 1,700 financial institutions had enrolled by April 2026.
Quarterly data reinforces the growth trajectory. FedNow settled 2,728,510 payments worth $271.3 billion in Q1 2026. The daily average of 30,317 transactions set a new quarterly record, up 13.1 percent from Q4 2025. Average payment value reached $99,414.
The Clearing House's RTP network settled $480 billion in Q1 2026. Together, the two US instant payment rails processed over $750 billion in the quarter.