“Instant payouts” isn’t one thing. Understanding real-time payments in the USA

Overview

I spend most of my time in payments infrastructure, and “instant payout” is probably the most oversold phrase in the business. It isn’t a feature. It’s a label sitting on top of one of four rails, and which rail you’re actually using decides your cost, your cut-off times, and whether the money can even reach the other side instantly. **Same-day ACH.** Frequently sold as “instant.” It isn’t. It’s batch processing, business days only, clears in windows with hard cut-offs. Miss the Friday window an

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