Leveraging the FedNow system along the firm’s existing Real-Time Payments (RTP) infrastructure allows Routable customers to send instant payments to about 85% of U.S. banks, including small and regional institutions.
Routable, a B2B payments solution with a focus on mass payouts, is bringing FedNow real-time payment offering to its clients in a move to expand instant payment coverage to the majority of American financial institutions.
FedNow is a nationwide, round-the-clock, real-time gross settlement system introduced by the United States Federal Reserve two years ago. It is overseen by the Federal Reserve Clearing House’s RTP network and has built-in fraud risk management features.
FedNow will complement Routable’s RTP functionality, designed to support high-volume workflows, which offers immediate confirmation and remittance data, making tracking easy for both sender and recipient, and shifts the burden of transactional fees to senders, using “industry-low” fees to enable seamless payouts. In a B2B context, having the sender cover the fee ensures the vendor gets the exact invoice value, reducing manual adjustments and improving supplier goodwill.
While instant payments are already available through Routable 24/7/365, even on weekends and holidays, adding FedNow to the system significantly expands the network of supported financial institutions. That is increasingly important in small business settings, as 66% of enterprises are choosing instant payments as long as they’re offered by their primary banking institution, which is not always a major nationwide bank.
As of 2025, over 1,400 financial institutions, including banks and credit unions, are live on the FedNow network, offering either send, receive, or both capabilities. Notably, these are not only major organisations but also smaller, regional, community institutions that serve local businesses and consumers even in financially underserved areas. The network is growing rapidly, as in early 2024, there were only about 4,000 banks and credit unions on board.
Greater participation is driven by the growing customer demand, as U.S. citizens are increasingly embracing payment innovations that were years in the making.
“With the rise in demand for instant payments, businesses are seeking greater flexibility. FedNow substantially increases our coverage for instant payments so we can better support our customers. By expanding access to instant payments, our customers have more control over when and how to pay their vendors and contractors.”
Omri Mor, Co-Founder and CEO of Routable
