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The Clearing House raises RTP transaction limit to $10M

Bank Automation

The Clearing House raised the transaction limit on its Real Time Payments network to $10 million, opening the door for new uses of the rail for commercial transactions.

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Mastercard Launches Anti-Money Laundering Service “TRACE” to Combat Financial Crime in Asia Pacific

Fintech Finance

Powered by timely and large-scale payments data from multiple financial institutions, TRACE provides holistic intelligence beyond an individual financial institutions siloed view, enabling tracing of financial crime across a payments network. giving financial institutions a network-level perspective they wouldnt otherwise have.

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FIs must comply with new ‘on behalf of’ payments rules

Bank Automation

The Clearing House has implemented revised rules for “on-behalf-of” payments on its Real Time Payments network. On-behalf-of (OBO) payments are payments on the Real Time Payments (RTP) network. These transactions are originated by a sender to make a payment on behalf of another person. “The

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FedNow payment value grows 140% QoQ to $43B

Bank Automation

The Federal Reserves instant payments network, FedNow, is gaining ground on The Clearing Houses Real Time Payments network and has added more FIs to its network than RTP since its launch in 2017.

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RTP payment volume up 94% in 2024

Bank Automation

The Clearing House Real Time Payments network grew 94% year over year on a dollar basis in 2024 as it continued to benefit from the Federal Reserves marketing of FedNow. TCH moved $246 billion on its network in 2024 and increased transaction volume by 38% YoY to 343 million transactions, according to a Jan.

RTP
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Live Oak Bank Implements Finzly’s Fedwire Solution

Finovate

The bank featured direct connections to all payment networks, including ACH, wires, RTP, FedNow, and Swift, as well as a multi-currency general ledger, low-code customer-onboarding forms, online experiences, and more. Live Oak Bank is only the latest partnership announced by Finzly this year.

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TCH cross-border payments on hold

Bank Automation

The Clearing Houses Real-Time Payments network is ready for cross-border payments from a technical perspective but is waiting for U.S. adoption of the network to grow to initiate the service.