BofA Supports Expanded $10M Cap on Real-Time Business Payments

BofA supports expanded $10M cap on real-time business payments

Recent developments by The Clearing House have raised the transaction limit on real-time payments from $1 million to $10 million. This change is encouraging new business-to-business payment applications among Bank of America clients, with the bank being one of the first financial institutions to allow its corporate customers to utilize this increased limit.Bank of America, as one of the owners of The Clearing House, contributed significantly to …

Bank of America says customers like higher real-time pay limits

Payments greater than $1 million are favored among the Charlotte-based bank's corporate clients; the U.K.'s Financial Conduct Authority taps NVIDIA for AI testing; Santander partners with Worldpay and more in this week's global payments roundup.

BofA Taps Merchant Data to Boost Payment Approval Rates

An optimal payment experience, which is frictionless in nature, involves collaboration. Issuers and merchants must work together to ensure that the merchant makes the sale, and the issuers want their cards to be top of wallet. Amy Pierce, managing director of merchant engagement at Bank of America, told PYMNTS that to get to that optimal state, data sharing must take place and collaborators must be aware that the payments are themselves shiftin…

BofA’s RTP Values Take Off and other Digital Transactions News briefs from 6/11/25 - Digital Transactions

In the first six weeks after The Clearing House Payments Co. LLC on Feb. 9 raised its real-time payments transaction limit from $1 million to $10 million, transactions of more than $1 million accounted for more than half the value of all real-time payments processed at Bank of America Corp., one of TCH’s owner institutions, the bank said. Payments optimization provider Pagos Solutions Inc. released its Model Context Protocol server, a service to…

Bank of America clients expand use of USD 10 mln RTP cap

Bank of America has observed a shift in payment behaviour among its corporate clients following an increase in the US RTP transaction limit from USD 1 million to USD 10 million.