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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-TimePayments) network.
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 instant payment capabilities.
These efforts include TCH’s efforts to connect financial institutions’ (FIs’) core banking systems to the company’s Real-TimePayments (RTP) network, along with what card networks and FinTechs are doing to enable real-time push payments to receiver bank accounts. New Trends Emerging.
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-TimePayments) network advancements, including instant payroll, merchant settlements and tokenization.
AppBrilliance , a pioneer in real-timepayment solutions with its cutting-edge Money API platform, is leveraging a recent rule change by The Clearing House to expand use-cases for RealTimePayments (RTP) to closed-loop digital wallets in the US.
Carvana has implemented request for payments technology and instant payments capabilities for down payments on vehicle purchases, allowing consumers to obtain their vehicle faster.
Banks have been playing catch-up with FinTechs in the bid to bring speed to their processes, especially when it comes to B2B payments. The conversation came across a backdrop of more than 50 real-timepayment systems currently live around the world, although largely domestic and regional in nature. That said, the U.S.
was moved between accounts at two different banks (there was only one customer with two bank accounts) via RTP, the name for a new “Real-TimePayments” system set up by The Clearing House. The system sees some business actually attaching paper checks to account files just so they can match payment with bills.
Some financial institutions (FIs) are seeking to help their corporate clients tap into real-timepayments (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. .
It’s a well-known fact, too, that corporate payments (the B2B kind) are ripe for digitization, and for a wholesale move away from the paper chase, where checks are still stubbornly tied to 50 percent of corporate transactions. where, for example, the Federal Reserve is mulling the development of its own real-time system. (
Forty countries: That’s how many places either have real-timepayments programs in progress or live. Along the way they dug into important data points that describe not only the current status of real-timepayments , but the opportunities that could help spark further growth. That’s progress.
When The Clearing House (TCH) unveiled the Real-TimePayments (RTP) system in 2017, it propelled swifter payments and brought about the next generation of fund transfers. It wasn’t the first to roll out such a system, but it was the first “major payments upgrade” in the U.S. RTP in the Bill Payments Realm.
Faster payments are only one example of the effects of a world moving toward real-time everything, with growing customer demands driving change in the way banks and businesses operate themselves. As such, the consequences of real-timepayments aren’t solely impacting consumers’ peer-to-peer ( P2P ) transaction activity.
Bottomline Technologies has announced the expansion of its Digital Banking IQ suite with the launch of its Real-TimePayments (RTP) module, utilizing the RTP Network from The Clearing House. Customer engagement is central to creating real, sustainable value in financial services.
Elsewhere, Forbes said, per an interview with Craig Ramsey, head of real-timepayments (RTP) at ACI Worldwide, that 2019 will see “significant” strides in real-timepayments. Once we get the merchants and the big institutions recognizing the benefits of RTP, then adoption will rapidly settle in.
As real-timepayments (RTP) gain traction with consumers via peer-to-peer (P2P), the pump may be primed for business-to-business (B2B) transactions to follow suit. Key among those conduits, of course, is the Clearinghouse RTP network, where commercial real-timepayments made their debut in the U.S.
In a recent interview with PYMNTS, Chris Ward, executive vice president and head of product management for PNC Financial Services Group — one of the first banks to offer real-timepayments to personal and business banking customers alike — said he believes the technology could be a game-changer in the U.S. and getting safer.
Trice Trice is a fast, secure platform for instant bank transfers, connecting directly to FedNow and RTP for real-time account-to-account transactions.
The solution leverages the RTP network from The Clearing House for real-timepayments clearing and settlement capabilities, allowing suppliers to receive instant access to funds, as well as detailed information about the transaction.
Realtime, ready for prime time? Adoption of any new payments service does not happen overnight. And when it comes to 24/7 real-timepayments, adoption by businesses, and by consumers, will be pushed ahead use case by use case and transferring funds between accounts in minutes or seconds will gain traction.
This might be useful for institutions that don’t need to send payments themselves but want to offer the convenience of real-timepayment receipt to their customers. FedNow will also offer tools to help participants deal with any payment inquiries they might have.
banks are putting their payment tools into overdrive. First, BNY Mellon recently announced that it became the first bank to enable Request for Payment messages using The Clearing House’s (TCH) Real-TimePayments (RTP) network. Several U.S.
Truists newest bill-pay solution taps The Clearing Houses (TCH) Real-TimePayments networks Request for Payment (RfP) tool. The economy is changing to a more real-time, a more instantaneous one, Chris Ward, head of enterprise payments at the $536 billion bank, told Bank Automation News.
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