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The Clearing House On The Race for Real-Time Payments In The US

PYMNTS

These efforts include TCH’s efforts to connect financial institutions’ (FIs’) core banking systems to the company’s Real-Time Payments (RTP) network, along with what card networks and FinTechs are doing to enable real-time push payments to receiver bank accounts. New Trends Emerging. Jack Henry … And Aiming For Ubiquity.

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The Clearing House’s Strategies To Drive RTP Uptake

PYMNTS

Banking association and payments company The Clearing House (TCH) has been confronting such concerns as it advances its real-time payment ( RTP ) offering in the U.S., TCH paid particular attention to community banks’ and credit unions’ abilities to connect with faster payment schemes.

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SMBs are increasingly opting for real-time payments, leaving credit cards behind as their preferred choice

Tearsheet

The RTP payments network reached a milestone by processing over 1 million payments in a single day on September 1, 2023. This inclination is particularly pronounced for national banks, with 55% of healthcare provider SMBs opting for a real-time payment rail, followed by 38% for regional banks, and a mere 24% for local banks and CUs.

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TCH Releases Business Principles, Adds Seats To RTP Committee

PYMNTS

The Clearing House (TCH), which operates the RTP Business Committee, has added four seats to the committee to incorporate community bank and credit union representation, and also released a set of business principles to outline the RTP’s work.

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Control Vs. Convenience Shapes Debate As FIs Adopt Faster Payments

PYMNTS

Enabling rapid-fire transactions to become the norm requires a critical mass of banks and credit unions (CUs) adopting these rails, however. Ledford explained how TCH’s Real-Time Payments ( RTP ) network could enable employers to disburse payroll instantly.

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TCH Ups Limit For General Transactions To $100K

PYMNTS

The new higher limit affects general transactions on the real-time payments (RTP) network, which is operated by TCH. Increasing the transaction value limit to $100,000 is the next logical step for the growing RTP network,” said Steve Ledford, senior vice president of product strategy and development for TCH. . More than half of U.S.

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Faster Payments: Does The Fed Have A Hidden Agenda?

PYMNTS

Then came PayPal’s debut of Instant Transfer to Bank. This new feature, available to PayPal customers in good standing, leverages the company’s partnership with Chase, and Chase’s connection to The Clearing House’s RTP network, to move money instantly into the bank accounts of consumers and SMBs. RTP and Faster.