Payments Dive

MAY 7, 2024

When it comes to bridging the FedNow and RTP networks, officials at the Federal Reserve and The Clearing House have slightly different priorities.

TCH

PYMNTS

AUGUST 10, 2020

Waiting for the Fed — and its promise of interoperability, which requires participation from the private sector — is akin to playing the (very) long game. Waterhouse said that in terms of TCH’s own initiatives in getting banks on board the ongoing effort to make RTP ubiquitous across the entirety of the U.S. New Trends Emerging.

Real Time Payments

Faster Payments Council

JUNE 11, 2020

While we're well on our way to establishing a thriving faster payments ecosystem, we recognize we're still missing a key factor that can contribute to achieving ubiquitous faster payments: interoperability. 53% of respondents expressed the lack of interoperability as a key barrier to faster payments adoption.

Interoperability

PYMNTS

APRIL 29, 2019

An interoperable cross-border solution could remove these frictions and provide smooth transfers between two real-time payment systems, while a single, globally accessible faster payments service could offer swift end-to-end transfers. Smooth communications between players must be supported if payment schemes are to be interoperable.

Interoperability

Fintech Finance

SEPTEMBER 13, 2024

With contributions from industry experts, the guideline aims to help FIs enhance their operational readiness for real-time payments, including RTP® and FedNow®. I truly think this will be a huge asset to banks as they make their journey into the world of RTP and FedNow.”

Instant Payments

PYMNTS

OCTOBER 12, 2020

These comment letters highlighted the need for features to address accessibility, interoperability, security, liquidity, and fraud prevention,” Montgomery said. Looking Toward Interoperability And Scale . Looking Toward Interoperability And Scale . Interoperability is a core component” of FedNow, said Montgomery.

Instant Payments

PYMNTS

OCTOBER 15, 2020

There’s room for RTP and ACH to co-exist, said Waterhouse, “for a very, very long time.” Interoperability In Focus . Interoperability, said the panel, can improve B2B payments, creating new payments structures that contain message payloads that (can eventually) enable straight-through processing.

Real Time Payments

PYMNTS

DECEMBER 12, 2019

“Every nation is deciding their own approach to [real-time payments],” said Killam, “and while flexibility in technology to accommodate different formats and different rules is important, the interoperability of systems domestically and globally will drive faster adoption and lead to more efficiency, especially in cross-border payments.”.

RTP

PYMNTS

FEBRUARY 8, 2018

It wasn’t until November 2017 that The Clearing House (TCH) debuted its Real-Time Payments (RTP) scheme — a system that isn’t expected to see across-the-board adoption until 2020. To achieve its true potential, though, RTP must be adopted by all U.S. Getting RTP to permeate the U.S. Getting RTP to permeate the U.S.

RTP

PYMNTS

DECEMBER 4, 2018

The industry’s issues include insufficient interoperability between schemes, as well as confusion and cost hurdles faced by financial institutions (FIs). EBA CLEARING ’s RT1 system, meanwhile, has processed more than 5 million transactions since launch — but some have said the faster payments space could be growing even faster.

Central Bank

The Fintech Times

MAY 17, 2024

There is a global desire to find commonality, interoperability and simplicity for online payments. Working with Real-Time Payments (RTP) networks around the world, we are overlaying decades of Visa expertise in applying AI to help mitigate fraud for account-to-account payments on RTP networks.

Product

PYMNTS

JANUARY 2, 2019

a number of leading tech companies have become vocal in their support of a real-time payments (RTP) network, to be created under the leadership of the Federal Reserve and different from what has been previously proposed by the big banks. He said “businesses are crying out for [RTP]” as part of their everyday interactions with one another.

Real Time Payments

PYMNTS

NOVEMBER 27, 2019

A lack of interoperability between local payment networks is among the largest of those hurdles, said Halpin. The solutions that faster payments technology have brought to corporates’ global operations cannot be downplayed, but major hurdles continue to challenge real-time payments’ ability to achieve ubiquity.

ISO 20022

PYMNTS

FEBRUARY 4, 2019

TCH, which is co-owned by 25 banks, launched Real-Time Payments (RTP) in November 2017. They stated that major banks have too much control over the RTP system and that they regarded the Fed as a compelling and more equitable alternative to achieving payments ubiquity. The Federal Approach.

Faster Payments

Fintech Finance

JULY 24, 2024

With experience and focus on innovative payment services across Real-Time Payments (RTP® and FedNow®), ACH, card solutions and alternative payment rails, Carl is well-positioned to support the FPC’s continued growth and innovation in faster payments.

Faster Payments

Faster Payments Council

MARCH 15, 2023

With the system joining the existing RTP system, both promising to modernize the way money moves and allow for greater use of instant payments, it seems the shift to real-time payments is 'inevitable'. Whether we will see these services gain traction is tied to what many believe to be a major hurdle–interoperability.

FPC

Faster Payments Council

AUGUST 23, 2024

Hear considerations including user experience, transaction routing, payments risk management, and navigating interoperability. It's time to confront the harsh reality—innovation alone doesn't drive broad adoption. Strategic shifts are required to unlock the full potential.

FPC

The Fintech Times

JANUARY 19, 2024

More than a quarter of those planning to connect to the Clearing House RTP (TCH RTP) Network expect to do so within the following year. In fact, 92 per cent see payment system interoperability as a top issue, consistent over the four annual surveys.

Faster Payments

PYMNTS

DECEMBER 18, 2018

That’s because some of the big banks run their own real-time payment clearing system via The Clearing House and its RTP system. That hasn’t been adopted by smaller financial firms, noted the report. The banks contend that the Fed would be competing with an existing system which would only serve to slow progress. “If

Real Time Payments

The Fintech Times

MAY 7, 2024

In fact, less than a third of US banks are signed up to either RTP or FedNow , meaning the vast majority cannot offer instant payments as a service; new research from RedCompass Labs , the payments modernisation company, has revealed. Across much of the world, instant payments have quickly become the norm.

Instant Payments

Trade Credit & Liquidity Management

APRIL 10, 2025

focusing exclusively on business-to-business applications: RTP® Network: Operated by The Clearing House (the people who enable ACH payments), RTP enables 24/7 instant transfers between business bank accounts, with funds settling in seconds. For high-growth businesses, combining RTP/FedNow with fintech automation tools (e.g.,

Real Time Payments

PYMNTS

JANUARY 25, 2019

Some financial institutions (FIs) are seeking to help their corporate clients tap into real-time payments (RTP) to keep up the pace. . “We Citizens plans to provide greater payments speed to its clients this year by using the RTP rail developed by The Clearing House (TCH). However, the current payments environment in the U.S.

Real Time Payments

Fintech Finance

APRIL 4, 2024

As an early participant in the RTP® network and top 3 RTP® originator, Cross River first collaborated with Trustly to provide access to The Clearing House’s RTP® network, where together, they are leading RTP® adoption. Trustly and Cross River have long served as pioneers in the instant payment industry.

FedNow

PYMNTS

AUGUST 3, 2020

But what’s key is that these systems can interoperate and coexist with each other, said Long, adding that companies like Avanti should act as a bridge between these two ecosystems to support their coexistence.

Real Time Payments

PYMNTS

AUGUST 16, 2019

The latest Smarter Payments Tracker looks at the infrastructure developments that are making cross-border payment systems faster, more seamless and interoperable. These transactions reached $144 billion in value in 2014 and could hit $240 billion by 2024. and Australia’s NPP.

Cross-Border Payments

PYMNTS

FEBRUARY 5, 2020

George Throckmorton, NACHA managing director and executive director of Afinis Interoperability Standards, said using the conventional bilateral agreements for payment data sharing “limits broader industry adoption” and doesn’t meet expectations. NACHA also announced that Ernst & Young (EY) will assist in the development of Phixius. “EY

NACHA

PYMNTS

SEPTEMBER 27, 2019

Competition and Interoperability. would not operate a single, unified real-time payments service; rather, FedNow would operate in conjunction with other services in the private sector, including The Clearing House’s RTP network. Congress is encouraging the Federal Reserve to take advantage of the fact that the U.S.

Real Time Payments

PYMNTS

AUGUST 7, 2020

Federal Reserve Board members this week shed some light on the timing and mechanics of FedNow — an always-on, fully interoperable interbank-settlement service that will give rise to instant payments in the United States. Clearing House has the RTP network. If all goes as planned, that is. In a Thursday (Aug.

Fed

PYMNTS

DECEMBER 18, 2019

Credit Unions Embrace RTP. Corporate America Credit Union (CACU) announced recently that it has become a funding agent for The Clearing House’s real-time payments (RTP) network, RTP (one of the newer payment rails in the U.S.), MoolahGo Explores The Interoperability Challenge. Profituity Aims To Elevate ACH.

B2B

PYMNTS

APRIL 25, 2019

While the Federal Reserve deliberates on whether it will create its own real-time payment (RTP) system, The Clearing House (TCH) is working to head off the competition by making a stronger case for its RTP being the best path to real-time payment ubiquity in the U.S. Read more in the Tracker.

Real Time Payments

PYMNTS

FEBRUARY 1, 2021

It has clarified the banking processes, but RTP is hardly ubiquitous within Italy, much less across the Eurozone. As Camporeale told Webster, Italian banks were among the first to adopt the SEPA instant credit transfer schemes, back in November 2017. Instant payments will also hasten the movement out of cash.

Real Time Payments

Fintech Finance

MAY 30, 2024

In addition, Visa is announcing Visa Pay, a new payments-as-a-service platform that provides world-class mobile-first experiences for digital payments and interoperable send-and-receive that has been developed for the Central and Eastern Europe, Middle East and Africa region. With Visa Pay, banks can supercharge their existing mobile apps.

Online and Mobile Banking

PYMNTS

AUGUST 7, 2019

“We obviously expect that the collective set of technology and the services that we’re buying can be further exported more widely across Europe and into other markets,” he said, with the goal to create an interoperable market of payments schemes that can facilitate account to account payments, in real time, across countries.

Visa

Fintech Finance

FEBRUARY 28, 2024

. “The Barometer reveals that the number one challenge of financial institutions in adopting faster payments is lack of ubiquity and interoperability, making it tough for them to transition to true 24×7 operation and generate ROI from their payments modernization investments.”

Faster Payments

The Fintech Times

JULY 24, 2024

Up to this point, US financial institutions have relied on The Clearing House ‘s (TCH) Real-Time Payments Network (RTP), run by big banks. Banks have a difficult choice between TCH’s RTP network and the new kid on the block, FedNow. In fact, in 2023 , real-time payments only made up one per cent of all payments in the country.

FedNow

PYMNTS

NOVEMBER 5, 2019

Jack Henry Associates announced last week that it has on-boarded an additional 15 financial institutions to The Clearing House’s RTP network in the latest sign of faster payments gaining traction in the U.S. Faster Payments Interoperability is a Must. A new report from the U.S. On Monday (Nov. 4), the U.S.

Faster Payments

Faster Payments Council

SEPTEMBER 12, 2022

The panel will discuss issues such as security, governance, and interoperability as well as concerns that the U.S. In this session, FPC QR Code work group leaders address the call to action for payment industry standards needed for universal acceptance and interoperability of QR codes.

FPC