Pidgin, a platform specializing in real-time payments, announced it has reached a milestone of 100 financial institutions utilizing its system to deliver instant payment services. This achievement, since its establishment in 2022, underscores Pidgin’s position as a leading provider in the expanding instant payments industry, representing the largest market share of U.
S. financial institutions.
Pidgin has experienced a substantial expansion, growing from three pilot clients to 100 financial institutions, representing a 3,166% growth trajectory. The company was among the initial service providers to achieve certification for the Federal Reserve’s FedNow Service, completing its testing and certification processes prior to the service’s launch in July 2023. This rapid adoption highlights Pidgin’s role in the evolving instant payments landscape.
“Reaching 100 financial institution clients represents more than just a number; it validates our vision of making instant payments accessible, secure, and seamless for financial institutions of all sizes,” stated Abhishek Veeraghanta, founder and CEO of Pidgin. He added, “From our early days as FedNow pioneers to becoming a trusted partner for banks and credit unions, we’ve remained focused on empowering financial institutions to deliver the real-time payment experiences their customers demand.”
The company’s client acquisition has been supported by strategic alliances, including its role as a preferred partner with ICBA Payments, the payments subsidiary of the Independent Community Bankers of America. This partnership facilitates access to instant payment capabilities for community banks nationwide. Pidgin has also broadened its reach within the credit union sector through a collaboration with Corelation, a prominent core processing provider.
Pidgin’s industry standing has been further recognized through its selection for the 2024 ICBA ThinkTECH Accelerator program and its inclusion in American Banker’s Innovations of the Year for 2025.
Tim Rozanski, Senior Vice President of Sales at Pidgin, commented on the company’s approach: “Our success stems from understanding that instant payments represent a fundamental shift in how financial institutions serve their customers. We’ve built a platform that not only connects institutions to payment rails like FedNow and RTP, but also provides the tools, security, and support they need to turn instant payments into competitive advantages and revenue opportunities.”
Pidgin’s platform is designed to serve financial institutions across various instant payment networks, including both the Federal Reserve’s FedNow Service and The Clearing House’s RTP network. Its technology stack incorporates administration portals, user-centric applications, and developer-friendly APIs, enabling financial institutions to integrate real-time payments into their existing operations. A key feature of Pidgin’s system is its ability to process transactions while keeping funds within the financial institution, avoiding third-party holding accounts.
This client milestone occurs as instant payments continue to gain traction within the U.
S. financial system. Industry research indicates the global real-time payments market was valued at $24.91 billion in 2024, with projections for growth from $34.16 billion in 2025 to $284.49 billion by 2032. This expansion is significantly influenced by the launch of the Federal Reserve’s Service.
Mr. Veeraghanta concluded, “As we celebrate this milestone, we’re already focused on the next phase of growth. The demand for instant payments is accelerating, and we’re committed to expanding our platform capabilities and partnerships to serve even more financial institutions while continuing to innovate in this dynamic market.”
