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 103

TCH Interoperability Fed Federal Reserve 103

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.

Real Time Payments 138

Real Time Payments RTP TCH Federal Reserve 138

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 77

Interoperability ISO 20022 Instant Payments Cross-Border 77

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 125

Real Time Payments NACHA SWIFT TCH 125

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 . Interoperability is a core component” of FedNow, said Montgomery. The Timeframe .

Instant Payments 97

Instant Payments FedNow Fed Interoperability 97

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 73

Faster Payments Federal Reserve Real Time Payments TCH 73

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 43

RTP Real Time Payments TCH Faster Payments 43