Receive-Only Instant Payments Is a Liability – What It’s Costing You Not to Send

By Marcia Klingensmith, Instant Payments Maven™

If your institution is live on FedNow^® or RTP^® but hasn’t turned on Send capabilities, you’re not alone — but you may soon be left behind.

The majority of financial institutions have taken the first step into instant payments through receive-only enablement. It feels like progress, and in some ways, it is. But staying stuck in receive-only mode is no longer a safe middle ground. It’s a strategic liability. The longer you delay activating Send, the more value you leave on the table—and the more vulnerable you become to fintechs, competitors, and customer attrition.

This isn’t about chasing hype. It’s about understanding the real, measurable costs of inaction. Let’s break it down.

Receive-Only is a Liability

The Illusion of “We’re Already Live”

When banks say they’re live on instant payments, what they often mean is: we can receive them. But receiving isn’t enough anymore. It’s passive. It’s reactive. And it puts your institution in the awkward position of facilitating innovation without participating in it.

You’re supporting the ecosystem—but you’re not leveraging it.

You’re enabling faster settlement for other institutions.

You’re losing disbursement business to fintechs who can send.

You’re training your customers to expect instant—and then telling them not from us.

The perception of modernity is there, but the monetization is not.

The Three Big Costs of Staying in Receive-Only Instant Payments Mode

1.    Revenue Drain

Banks that only receive are missing out on high-value use cases like:

• Earned wage access

• Wallet disbursements

• Insurance payouts

• Vendor and treasury payments

These use cases can generate:

• Fee income

• Deposit growth

• Loyalty improvements

• Operational efficiencies

Without Send, you’re locked out. You’re a participant, not a provider.

2.    Customer Leakage

The business clients you want are already looking elsewhere.

Digital wallets, fintech apps, and competitors are increasingly becoming the go-to for:

• Instant payouts

• Supplier payments

• Contractor disbursements

And once your customers start using another platform to pay their customers… they don’t come back.

3.    Reputational Risk

In an era where 24/7 speed is the norm, being the bank that can’t send is more than just an inconvenience. It’s a branding problem.

You risk becoming:

• The institution that’s “behind”

• The partner clients stop recommending

• The vendor that adds friction instead of removing it

In short: your competitive edge dulls, even if your intentions were prudent.

“We’ll Do It Later” = Letting Others Define the Market

Maybe your institution is saying:

“We want to wait and see how Send shakes out before we dive in.”

The problem? By the time you’re ready, the most valuable use cases will already be dominated by early movers.

Look at earned wage access. Digital wallet disbursements. Insurance. Treasury.

These verticals are already being defined by agile players who moved early, created partnerships, and captured market share.

They’re not just moving money. They’re locking in relationships, pricing models, and expectations.

By waiting, you don’t just fall behind—you lose the chance to define your own value.

Why It’s Not Too Late—Yet

The good news? You can still catch up. But you need to act with urgency—and clarity.

Our SAFE to SEND™ program was built for banks exactly like yours:

• Mid-sized institutions stuck in receive-only mode

• Teams overwhelmed by complexity, compliance, or stakeholder misalignment

• Leaders who want to move, but can’t get everyone on the same page

The program simplifies your Send strategy into an 8-week accelerator that evaluates risk, prioritizes use cases, and produces a launch plan your board will back.

You don’t need to bet the bank. You just need a safe way forward.

Start Small. But Start.

Send enablement doesn’t have to be all-or-nothing. Many banks launch with a single use case, such as:

• Me-to-Me transfers

• Internal disbursements

• A specific vertical like insurance or gig payouts

From there, you scale.

The key is to start—to learn, build internal alignment, and gather data on what works for your institution.

Ask Yourself:

• Are we monetizing our RTP or FedNow investment—or just supporting others’ success?

• Do our business customers still write checks for disbursements?

• Are we comfortable being left out of the instant economy?

If the answer is no… then it’s time to move.

Next in This Series:

In my next article, we’ll explore why perceived safety in sticking with the status quo is no longer a risk-free move:

👉 “No One Got Fired for Playing It Safe—Until Now”

We'll explore the fear of “getting it wrong,” and how to align your team around safe innovation that delivers value without exposure.

Want a sneak peek at how SAFE to SEND™ works? Let’s schedule a 20-minute call.

About the Author

Marcia Klingensmith is the CEO & Principal Consultant of FinTech Consulting, LLC, and is known across the industry as the Instant Payments Maven™. With over 20 years at Visa, Bank of America, Wells Fargo, LexisNexis Risk Solutions, and FIS, she helps financial institutions, fintechs, and payment providers monetize instant payments, modernize infrastructure, and de-risk innovation. Through her proprietary SAFE to SEND™ framework, Marcia guides senior leaders from receive-only to revenue-ready—aligning stakeholders, prioritizing use cases, and delivering board-ready strategies. She serves on multiple Faster Payments Council committees and is a sought-after speaker and advisor globally.

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