SouthState Expands Instant Payments Capabilities

Rhea-AI Summary

SouthState Bank (NYSE: SSB) has launched instant payment capabilities for its Treasury customers, enabling real-time transaction processing with enhanced security features. During their pilot program, the bank successfully processed over 600,000 instant payment transactions totaling more than $400 million.

The service utilizes two networks: The Clearing House's Real-Time Payments (RTP) and the Federal Reserve's FedNow, offering fully encrypted, secure transactions. Pilot program participant Hourly.io reported significant benefits, with employee payments now processing within 15 seconds instead of end-of-day or next-day timeframes.

The instant payments system follows the global ISO 20022 standard, facilitating easier data integration with enterprise and accounting systems. While currently limited to Treasury customers, SouthState plans to explore expanding these capabilities to other customers in the future.

Positive

• Successfully processed over 600,000 instant payment transactions worth $400 million during pilot program
• Enhanced security through fully encrypted transactions over secure networks
• Improved efficiency with 15-second payment processing compared to traditional end-of-day or next-day settlements
• Integration with both major instant payment networks (RTP and FedNow)

Negative

• Service currently limited to Treasury customers only

Insights

Banking Technology Specialist

SouthState Bank's new instant payments capability enhances competitive positioning in banking technology while improving cash management for Treasury clients.

SouthState Bank has launched instant payments capabilities for its Treasury customers, enabling real-time transactions through both The Clearing House's Real-Time Payments (RTP) and the Federal Reserve's FedNow networks. This strategic move positions SouthState as a technologically progressive regional bank in the evolving payments landscape.

The bank has already demonstrated the system's reliability through an extensive pilot program that processed over 600,000 transactions totaling more than $400 million. This successful implementation indicates substantial transaction volume capacity and system stability before the full-scale launch.

The adoption of the global ISO 20022 standard for these payments is particularly significant as it enables seamless integration with enterprise systems. This standardization reduces friction in payment processing and improves reconciliation efficiency - critical advantages for treasury operations.

For context, instant payment capabilities represent a meaningful competitive differentiator for regional banks. While many larger institutions have already implemented these technologies, SouthState's move demonstrates their commitment to offering enterprise-grade treasury management solutions typically associated with much larger financial institutions.

Payroll processing company Hourly's testimonial highlights a compelling use case - enabling near-instant wage payments that can provide significant value to workers living paycheck-to-paycheck. This illustrates how the technology delivers both operational efficiencies for businesses and tangible benefits for end-users.

While currently limited to Treasury customers, the bank's mention of potential expansion to other customer segments suggests a phased implementation approach that could eventually create broader revenue opportunities across their customer base of 1.5 million across multiple states.

WINTER HAVEN, Fla., Sept. 17, 2025 /PRNewswire/ -- SouthState Bank today announced its Treasury customers now have access to send and receive instant payments.

"At SouthState, we understand that in today's fast-paced business environment, speed, security, and reliability are essential. In response to these needs, we are thrilled to announce the launch of our new instant payments solutions. These solutions are specifically designed to empower businesses with the tools they need to enhance their cash flow management, conduct secure transactions, and improve reconciliation processes—all in real-time," said Tara Edmonds, Enterprise Payments strategy leader. "With our advanced instant payments capabilities, our Treasury customers are now equipped to conduct real-time transactions with complete confidence. This milestone underscores SouthState's dedication to innovation and reinforces our role as a forward-thinking regional bank at the forefront of progress in the payments industry."

During the past year, SouthState has conducted an instant payments pilot program with a group of clients. Throughout this time, more than 600,000 instant payment transactions totaling more than $400 million have been processed.

Hourly, a company that provides payroll, time tracking, GPS, HR and Workers' Compensation services, participated in the SouthState pilot program for instant payments.

"As a payroll start up, we are constantly looking to improve our service. Making sure that our customers' employees get paid as fast as possible has always been top of mind for us. We were excited to learn that SouthState Bank already offers instant payments. The impact for our customers' employees is significant - instead of getting paid at the end of the business day or in some cases the day after, now they can get paid within 15 seconds. For people that may be living paycheck to paycheck, it makes a big difference," said Tom Sagi, co-founder & CEO of Hourly.io.

There are two instant payments networks to send and receive funds: The Clearing House's Real-Time Payments (RTP) and the Federal Reserve's FedNow. Because payments are sent between two banks fully encrypted and over a secure network, they are safer, in addition to being more convenient.

Instant payments adhere to the global ISO 20022 standard, making data integration into enterprise and accounting systems easier than ever. As a result, instant payments create more efficiency and less friction for businesses, making a better experience for customers, vendors and employees.

While the instant payments send functionality is currently available only for SouthState Treasury customers, the bank continues to look at opportunities to expand the offering to other customers in the future, as well.

SouthState Bank Corporation (NYSE: SSB) is a financial services company headquartered in Winter Haven, Florida. SouthState Bank, N.A., the company's nationally chartered bank subsidiary, provides consumer, commercial, mortgage and wealth management solutions to more than 1.5 million customers throughout Florida, Texas, the Carolinas, Georgia, Colorado, Alabama, Virginia and Tennessee. The bank also serves clients nationwide through its correspondent banking division. Additional information is available at SouthStateBank.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/southstate-expands-instant-payments-capabilities-302559045.html

SOURCE SouthState Bank N.A.

FAQ

What instant payment capabilities has SouthState Bank (SSB) launched in 2025?

SouthState Bank has launched instant payment solutions that enable Treasury customers to send and receive real-time payments through both The Clearing House's RTP and Federal Reserve's FedNow networks.

How many transactions did SouthState Bank process during its instant payments pilot program?

During the pilot program, SouthState Bank processed over 600,000 instant payment transactions with a total value exceeding $400 million.

How fast are payments processed through SouthState Bank's new instant payment system?

According to pilot program participant Hourly.io, payments are processed within 15 seconds, compared to traditional end-of-day or next-day processing times.

Which payment networks does SouthState Bank's instant payment system use?

SouthState Bank's instant payment system utilizes two networks: The Clearing House's Real-Time Payments (RTP) and the Federal Reserve's FedNow.

Who can currently access SouthState Bank's instant payment capabilities?

Currently, the instant payment send functionality is only available to SouthState Treasury customers, with plans to potentially expand to other customers in the future.