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RTP adoption has since spread across myriad industries and uses cases, ranging from companies paying suppliers, each other and their consumers to government entities making payouts to firms or individuals. Customer-to-business (C2B) bill payments aren’t the only transfers made simpler by RTP. in approximately four decades. .
Whether payments are moving between individuals (peer to peer, or P2P) or between consumers and businesses (C2B), they flow most easily from like to like — for instance, if the sender wants to use PayPal, the recipient must also have an account. That’s why ubiquity is so desirable.
But that, coupled with the value of interacting with real human beings who can help “close the sale” and treat loyal customers like VIPs, is among the reasons that physical retailers want nothing more than to have consumers step foot in their stores. And paying for stuff was a breeze, too.
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