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Why the U.S. has reached a real-time tipping point

Finextra

Similarly, a record 98 million transactions were made through The Clearing House (TCH-RTP) network in Q4 2024 [3]. TCH went live with this change in February, enabling real-time payments up to the value of $10 million. FedNow is also reporting significant growth, with more than 1.3 million transactions settled in the same period [2].

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Mastercard and The Clearing House deepen their partnership to zero in on new instant payments applications 

Tearsheet

Mastercard recently expanded collaboration with The Clearing House (TCH), with the shared goal of propelling the adoption of instant payments. Mastercard’s collaboration with TCH dates back to 2017 when TCH introduced the RTP network, with Mastercard as the exclusive software provider for the network.

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Deep Dive: Weighing The Federal Reserve’s Faster Payments Proposal

PYMNTS

TCH, which is co-owned by 25 banks, launched Real-Time Payments (RTP) in November 2017. The new rail facilitates 24/7 payment clearing and settlement in real time. The group claimed that “ubiquity is unlikely to be achieved without a [real-time gross settlement system] offered by the Federal Reserve.”. The Federal Approach.

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FedNow’s Montgomery: Gearing Up For 2023-24 — And Instant Payments Competition

PYMNTS

As reported in August, the Fed had announced some additional details of the 24/7 year-round interbank settlement service through a program that began to take shape in 2019, geared toward speeding processing times tied to instant payments (and featuring a clearing function). The Timeframe . Digital Dollars, Too? .

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Corporate America Credit Union To Serve As RTP Funding Agent

PYMNTS

The Corporate America Credit Union (CACU), which serves almost 500 credit unions (CUs) around the world, has become a funding agent for the RTP network, The Clearing House ’s (TCH) real-time payments network, according to a release.

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Citizens Bank’s Corporate Real-Time Payments Play

PYMNTS

Citizens plans to provide greater payments speed to its clients this year by using the RTP rail developed by The Clearing House (TCH). The FI, one of TCH’s owner banks, aims to offer its customers real-time payments during the first half of 2019, and give them the ability in later months to send them. . Federal Reserve Proposals.

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MUFG Intros Corporate Real-Time Payments 

PYMNTS

MUFG Union Bank is now offering business customers real-time payments on The Clearing House (TCH) RTP network, MUFG announced on Thursday (Jan. With real-time payments, the process is simplified and saves time, making for better cash flow and financial management.