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May 31, 2024

On the web

April 10, 2024

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April 4, 2024

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RTP® Network BreaksRTP® Network Breaks Instant Payments Records Instant Payments Records

The Clearing House

"Consumers and businesses took advantage of instant payments through The Clearing House RTP® network, which resulted in numerous records set in the first quarter of 2024. The network experienced a record 76 million transactions in the first quarter, valued at $42 billion. March was also a record month with nearly 27 million transactions, and March 1st is now the single day with the most transactions at over 1.25 million."

March 21, 2024

On the wires

March 12, 2024

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March 7, 2024

On the web

January 24, 2024

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January 3, 2024

On the web

November 8, 2023

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Why Some US Bank Deposits are Held Up Days After 'Processing Error' Delayed 850,000 Payments

Yahoo Finance

"Hundreds of thousands of payments never landed in US bank accounts last week because of a “processing error.” ...The Clearing House, which processes a large portion of the bank-to-bank electronic transfers that happen in the US each day, said Tuesday in a statement that some payments were delayed last Thursday because instructions were sent to financial institutions “with the account number and names of customers masked.”

October 19, 2023

On the wires

AFP Survey Reveals Over 75% of Businesses Will Utilize Real-Time Payments in Next 5 Years

PR Newswire

"The 2023 AFP® Real-time Payments Survey, conducted by the Association for Financial Professionals® (AFP) and sponsored by The Clearing House, found that corporates plan to drastically increase their use of real-time payments in the next five years to benefit from lower transaction costs, improved transparency into the payment process, increased efficiency, and better cash flow."

October 4, 2023

On the wires

Cross River and Paymints.io Further Expand Optionality for Real Estate Transactions with Real-Time Payments Through The Clearing House’s RTP® Network


"Cross River Bank, and paymints.io, a cloud-based financial operating system for digital payments that allows title insurance companies and real estate brokerages to send and receive digital payments in and out of escrow accounts, announced the expansion of their partnership to bring real-time payments to paymints.io customers over The Clearing House’s RTP® network."

September 19, 2023

On the web

Sibos TV: Harmonising Payment Messaging for ISO 20022 [Video]


"Message standardisation across multiple jurisdictions in accordance with the ISO 20022 is a global, multi-year effort requiring substantial industry collaboration.  With the migration of the Clearing House Interbank Payments System (CHIPS) slated for April 2024, Richard Dzina, Senior Vice President of Product Development at The Clearing House joins Sibos TV to talk about implementation efforts and the benefits of the work ahead."

September 6, 2023

On the web

RTP® Network Surpasses 1-Million Payments on a Single Day

The Clearing House

"The RTP® network, the instant payments system operated by The Clearing House that is available to all insured depository financial institutions in the United States, surpassed the one million daily payment milestone on September 1 as more financial institutions and their customers realize the benefits of real-time payments, including immediate funds availability, confirmation of payment receipt, and payer control of when a payment is sent."

August 2, 2023

On the web

July 24, 2023

On the wires

April 28, 2023

On the web

Conduent Introduces First-of-Their-Kind Digital Payment Solutions for Tolling and Other Transportation Uses

EIN News

"Conduent Transportation, a global provider of smart mobility technology solutions and business unit of Conduent Incorporated (Nasdaq: CNDT), today announced new digital payment solutions, using real-time payments over the RTP® network, for the transportation sector. The solutions will make billing and paying tolls faster, easier and more secure for transportation agencies and toll road users. The new digital solutions, the first-of-their-kind in the transportation industry, could later expand payment options for bus and rail transit operators, parking authorities and other public sector uses, such as traffic fines."

April 13, 2023

On the web

Real-Time Payments (RTP®) on Plaid Transfer


"With Instant Payouts on the Transfer Platform from Plaid, customers can move money in real time, authorize account holders securely, and analyze risk--all within a single API. Instant Payouts initiates payments over the RTP® network, which is connected to 65% of accounts, and it intelligently and automatically routes payments over ACH for customers not on RTP."

January 9, 2023

On the web

NorthOne Partners with The Bancorp Bank; Introduces Real-Time Payments

IBS Intelligence

"NorthOne recently announced that they are breaking new ground in the FinTech space by joining The Clearing House’s Real-Time Payments network in partnership with The Bancorp Bank, N.A. With The Clearing House’s innovative Real-Time Payment network, NorthOne will help businesses receive payments instantly 24 hours a day, 365 days a year, and serves as a platform for innovation, allowing NorthOne to deliver new products and services to customers...With 61% of small businesses struggling due to poor cash flow management, the launch of real-time payments will directly remove a major barrier to success for the businesses NorthOne serves by making it faster for them to get paid."

November 28, 2022

On the web

Real-Time Payments In U.S. Marks Fifth Year — FedNow Coming In July

“To mark the fifth anniversary of real-time payments in the U.S. The Clearing House (TCH) and Jack Henry launched a flurry of statistics which cast a bit of an obscuring haze over the topic.   TCH says its RTP network reaches 62% of all demand deposit accounts in the U.S. and 85% of insured depository institutions have technical access to the network through more than 20 technology solutions providers, including Jack Henry & Associates, FIS, Fiserv, COCC, Finastra and Shazam. The Clearing House is eager to show that it provides services for small banks and credit unions and isn’t just a network for the major banks.”

November 15, 2022

On the web

TCH Comments on Treasury Department’s Notice and Request for Comment on Digital Assets and Digital-Asset-Related Illicit Finance and National Security Risks

The Clearing House

The Clearing House Association (TCH) submitted comments in response to the Treasury Department’s notice and request for comment on “Ensuring Responsible Development of Digital Assets” and digital-asset-related illicit finance and national security risks. In its letter, TCH addressed digital-asset-related illicit finance and national security risks, ways to mitigate these risks, the Treasury Department’s “Action Plan to Address Illicit Financing Risks of Digital Assets” (Action Plan), and ways in which to support anti-money-laundering/countering-the-financing-of-terrorism (AML/CFT) controls in the design of a potential U.S. CBDC. With regard to privately-issued digital assets and private token-based cryptocurrency, TCH opined that a comprehensive federal prudential framework applying standards to digital assets service providers that are equivalent to those that apply to depository financial institutions when engaged in functionally similar activities is essential. TCH also commented that banks, which are subject to comprehensive regulatory and supervisory frameworks, should be no less able to engage in digital-asset-related activities than nonbanks.

November 9, 2022

On the web

TCH White Paper Outlines Legal Authority for Insured Depository Institutions to Issue and Provide Stablecoin-Related Activities, Including Digitized Deposits

The Clearinghouse

“The Clearing House has released a research paper that analyzes the legal authority and policy considerations for banks’ engagement in stablecoin-related activities.The TCH paper provides information about the legal authority of insured depository institutions to issue stablecoins and engage in stablecoin-related activities, and notes that: The OCC’s 2020 and 2021 letters concluding that national banks have the clear legal authority to issue and exchange stablecoins are soundly based on language in the National Bank Act, and consistent with numerous legal decisions and regulatory determinations regarding a bank’s authority to issue payments and deposit instruments. National banks have always been permitted to develop innovative deposit and payment mechanisms, as receiving deposits and acting as financial intermediaries are core functions of banks. Notwithstanding that the OCC’s “transparency doctrine” focuses on the authority of a national bank to offer a product or service, rather than how the service is delivered, and stablecoin issuance by banks and stablecoin-related activities constitute a new means of accepting, holding and transferring deposits, there has been no public statement of approval granting a federally-insured bank the ability to issue a customer-facing stablecoin.”

October 13, 2022

Top Post

The Real-Time Payments Trends TCH’s Product and Strategy Head is Watching

Insider Intelligence

“Faster and real-time payments are having a moment. Faster payments adoption among organizations grew 10% year over year (YoY) in 2021, per data from the US Faster Payments Council and Glenbrook Partners. And that’s accelerated this year as payment systems like The Clearing House’s Real-Time Payment (RTP) network innovate and the Federal Reserve’s FedNow launch nears. Companies like FIS have also rolled out solutions that let businesses and consumers transfer money quickly and seamlessly. Real-time payment innovations will help set a new standard for the US transaction system and speed up the transition away from cash. Below are highlights from Insider Intelligence’s conversation with James Colassano, senior vice president of product development and strategy at The Clearing House (TCH).”

October 12, 2022

On the web

The Clearing House Joins the Open Invention Network

GlobeNewswire News Room

“Open Invention Network (OIN), the organization formed to safeguard open source software (OSS) and now the largest patent non-aggression community in history, announced today that The Clearing House (TCH) has joined as a community member. As the nation’s most experienced payments company, operating U.S.-based payments networks that clear and settle more than $2 trillion each day through wire, ACH, check image and real-time payments, TCH is reinforcing its commitment to OSS as an enabler of advanced financial services payment platforms.”

October 6, 2022

On the web

Immediate Cross-Border Payments (IXB) Pilot Set to Revolutionize International Payments

The Clearing House

“EBA CLEARING, The Clearing House (TCH) and SWIFT announced today that the delivery of the Immediate Cross-Border Payments (IXB) pilot service is on track and is set to revolutionize cross-border payments. The IXB pilot service will leverage the existing real-time payment systems RTP® in the United States, run by TCH, and RT1 in Europe, run by EBA CLEARING. IXB will begin processing the first live transactions in the euro and U.S. dollar currency corridor in the coming months. Developed with the support of 25 financial institutions from both sides of the Atlantic, the IXB pilot has been progressing during the past six months, resulting in the timely delivery of the IXB solution processing the technical messaging between the pilot institutions engaged in the testing and the respective payment systems. End-to-end testing between RTP, the IXB app and RT1 is ongoing with user integration and testing following shortly thereafter.”

May 17, 2022

On the wires

Routable Launches Real-Time Payments (RTP®) to Enable Instant Payouts at Scale


“Routable, a modern and intuitive business payments platform, with a focus on mass payouts, today announced the launch of Real-Time Payments (RTP®), which allows businesses to securely pay vendors and contractors within seconds. Routable built RTP® leveraging its extensive experience in mass payouts, so it can accommodate businesses as they scale from 250 payouts per month to over 100,000.  This is a significant competitive advantage for companies looking to strengthen relationships with key third parties and improve operational efficiency at scale.”

May 2, 2022

On the web

New Tokenization Capability Helps Increase Security of Bank Account Information for Customers

The Clearing House

“Tokenization for deposit and checking account information, which ensures a customer’s banking account and routing numbers are never transmitted along with a payment, will soon be available for financial institutions that utilize the RTP® and EPN networks, the real-time payments and Automated Clearing House (ACH) networks operated by The Clearing House.  Secure Token Exchange (STE) for customer deposit and checking accounts is a new, optional capability currently available for the RTP network that issues tokens for a customer’s bank account and routing numbers. These tokens can be used like real account numbers for transactions over the RTP network. This helps to reduce the instances of a customer’s bank account numbers being stored outside of their bank, such as with a fintech app, a biller, retailer, or other third parties. Customer deposit and checking account tokenization for EPN is targeting availability later this quarter.”

On the wires

Fiserv and The Clearing House Expand Access to Real-Time Payments

Fiserv, Inc.

“Thousands of financial institutions will be able to simplify and accelerate the enablement of real-time payments for consumers and businesses as the result of a collaboration between The Clearing House and Fiserv, Inc., a leading global provider of financial services technology solutions. Fiserv financial institution clients will be able to access The Clearing House RTP® network and support a broad range of consumer and commercial payment services via NOW® Gateway from Fiserv.”

April 28, 2022

On the web

EBA CLEARING, SWIFT and The Clearing House to Deliver Pilot Service for Immediate Cross-Border Payments


“EBA CLEARING, SWIFT and The Clearing House (TCH) announced today that they plan to launch a pilot service for immediate cross-border (IXB) payments with the support of banks from both sides of the Atlantic. The pilot service is scheduled to begin by the end of this year with several participants joining the service in a phased approach. It is being designed with the contribution of 24 financial institutions, including those that are preparing to join the pilot.”

October 27, 2020

On the wires

Early Warning and The Clearing House Complete Critical Integration Milestone of the Zelle® and RTP® Networks

“Early Warning Services, LLC. (EWS), the owner and operator of the Zelle Network®, and The Clearing House (TCH), the operator of the RTP® network, today announced that financial institutions can now settle Zelle payments over the RTP network, the real-time payment system in the United States. PNC Bank and U.S. Bank have successfully completed a pilot of the integration, transmitting money using Zelle over the RTP network. Additional FIs will integrate the two networks and start testing later this year. This is a critical milestone in enabling FIs of all sizes to begin using both networks.”

June 18, 2020

On the wires

Chesapeake Bank Provides Faster Payments to Customers on the RTP® Network

Chesapeake Bank, a community bank serving central and eastern Virginia, has joined the RTP® network developed by The Clearing House. With the RTP network, Chesapeake Bank customers can now receive payments directly into their accounts with real-time receipt confirmation and instant availability, while also providing for advanced messaging capabilities.”

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