This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
was slow getting to real-time payments , but the businesses and individuals are taking them up in a big way, using primarily the private sector RTP rails from The Clearing House (TCH). The number of real-time payments and their size of the payments has risen sharply in the last quarter. getty The U.S.
Cross River Bank (“Cross River”), a technology infrastructure provider that offers embedded finance solutions, announced the launch of Request for Payment (RfP), a transformative addition to its growing suite of instantpayment capabilities.
From a Press Release dated June 9, 2025, Fort Lee, NJ Cross River Bank has launched its Request for Payment (RfP) solution, a new feature designed to enable secure, real-time inbound payments via the RTP® (Real-Time Payments) network.
Eighty percent of respondents identified faster payments as a must have, with financial institutions leading the charge at 84%, said FPC Executive Director Reed Luhtanen. The results reflect growing adoption of the FedNow Service and RTP Network and an expanding array of use cases in both consumer and business contexts.
Cross River , a banking infrastructure provider, has launched Request-for-Payment (RfP) on the RTP® network, with fintech platform Plaid as the first user enabling instant pay-ins for online used car seller Carvana.
Carvana has implemented request for payments technology and instantpayments capabilities for down payments on vehicle purchases, allowing consumers to obtain their vehicle faster.
Modern Treasury , essential infrastructure for the new era of payments, has announced that it has expanded instantpayments support for mutual customers of six leading banks — Bank of America, Cross River, JPMorgan Chase, PNC Financial Services, U.S. Instantpayments, powered by the first new payment rails in the U.S.
You’d be forgiven for thinking that faster payments might be the purview of the U.S. Federal Reserve, where details (a roadmap, really) of FedNow , the proposed instantpayment system, were released earlier this month. But it might not be the Federal Reserve ’s doing. New Trends Emerging. Jack Henry … And Aiming For Ubiquity.
According to Russ Waterhouse , executive vice president of Product Development and Strategy at The Clearing House (TCH), the surge in digitization brought on by the COVID-19 crisis has accelerated the evolution of a range of RTP (Real-Time Payments) network advancements, including instant payroll, merchant settlements and tokenization.
Some financial institutions (FIs) are seeking to help their corporate clients tap into real-time payments (RTP) to keep up the pace. . “We We might be at a tipping point in the market, [in which] the market just demands faster payments,” said Matt Richardson, head of product solutions at Citizens Bank. . as an example.
Real-time payments (RTP) can appeal to such consumers because, in part, it can replicate the experience of cash, especially in regards to the speed of transactions. A successful RTP use case often needs other forces at work. And that’s where real-time payments can provide a service. That will not change anytime soon.
The Federal Reserve Bank is currently developing a new instantpayment service called “FedNow” that will allow financial institutions to make instantpayments. The development of the FedNow service is a response to the growing demand for efficient instantpayment services in the digital age.
We organize all of the trending information in your field so you don't have to. Join 5,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content