In order to extend the benefits of real-time payments to more individuals and small businesses, Fiserv, FIS, Jack Henry, and The Clearing House announced today they are jointly funding the onboarding fees of minority-owned depository institutions (MDIs) joining the RTP^® network, the real-time payments network operated by The Clearing House. This program will be available to MDIs that utilize Fiserv core processing solutions and agree to join the RTP network in 2021.

“Dwolla , a modern payments platform, releases access to Real-Time Payments, an instant* payment option that can send money directly to a bank account in seconds using the RTP® Network. Dwolla’s solution for programmable Real-Time Payments powered by Cross River Bank comes after a decade of experiences in faster payments. The company contributed to the Federal Reserve Faster Payment Task Force and Mojaloop initiatives in partnership with the Bill and Melinda Gates Foundation to truly refine a customer-centric real-time experience. Today, businesses can integrate Dwolla’s payment API to connect with RTP-enabled financial institutions and send funds within seconds to a bank account. Existing clients can change a single line of code to initiate an RTP transaction using the Dwolla API.”

“It’s a sample of what Dwolla has been after in recent years — and the Des Moines-based fintech says it has landed a major RTP partnership it will reveal in the coming weeks, bringing more faster payments capabilities to the U.S. market through Dwolla technology. “I did some recent research on Dwolla and am pretty impressed, because five years ago I could not really determine what the company was trying to do, it lacked a sense of direction,” said Talie Baker, senior analyst at Aite Group.”

“Early Warning Services, LLC and The Clearing House (TCH) today announced Zelle® transactions can now be cleared and settled over the RTP® network . “Demand for faster payments has never been higher, and today’s integration milestone eliminates lengthy and costly legacy processes that have long been barriers to many real-time payment settlements between financial institutions,” said Lou Anne Alexander, chief product officer, Early Warning Services .”

“Wells River Savings Bank, a community bank in Vermont, announced that it has committed to bringing real-time payments capabilities to its customers through the RTP® network developed by The Clearing House (TCH). Wells River will gain access to the RTP network through SHAZAM, Inc., a national debit-branded network and provider of core, EFT and other financial services to community financial institutions, while Atlantic Community Bankers Bank (ACBB) will provide funding agent capabilities.”

“Payments Canada today announced the selection of Mastercard’s Vocalink as the clearing and settlement solution provider for the country’s new real-time payments system, the Real-Time Rail (RTR). This announcement follows an extensive procurement process that included the Bank of Canada and the Department of Finance. The partnership will draw on Mastercard’s expertise, and its next-generation real-time payments technology to provide the infrastructure and services to support the clearing and settlement for the RTR. The clearing and settlement solution will meet all Payments Canada requirements, including support for the ISO 20022 messaging standard, and will comply with the Bank of Canada risk management standards for prominent payment systems.”

“Alacriti , a fintech company specializing in payments today announced its Cosmos for RTP solution, powered by the Orbipay Platform. Cosmos for RTP enables banks and credit unions to quickly and seamlessly connect to The Clearing House’s RTP® network and deliver innovative real-time payment services to their customers. Alacriti’s solution allows financial institutions to rapidly leverage the power and convenience of RTP to drive new revenue without the burden of significant infrastructure overhauls or capital investments.”

“BMO Financial Group has announced its partnership with The Clearing House Payments Company, LLC (TCH), allowing business customers in the U.S. to receive funds immediately from any sending participant bank in the Real-Time Payments (RTP®) network, the real-time U.S. payment system developed and operated by TCH.”

“As consumers and businesses increasingly demand the speed and convenience of faster payment methods, financial technology leader FIS ® (NYSE: FIS) is teaming with The Clearing House to bring real-time payment processing and settlement to small-to-mid-sized banks and credit unions and their customers.”

“Financial Institutions that hold 70% of demand deposit accounts (DDA) now have access to real-time payments capabilities via banking technology providers connected to the RTP® network, the real-time payment system in the United States provided by The Clearing House. With additional banking technology providers connecting to the RTP network, even more financial institutions have a technical path to offer real-time payments to their depository institution customers when their institution is ready. Jack Henry & Associates, FIS, Sherpa Technologies, PayFi, ACI, COCC, and other third-party banking technology providers have implemented streamlined processes to connect their clients to the RTP network.”

“Today, Modern Treasury, a payment operations software provider, announced that customers have reconciled over $100 million using the Modern Treasury platform in the month of August. Its treasury management and payment operations platform serves finance and engineering teams across industries including real estate, health care, financial services, and marketplaces. Reconciled dollar volume continues to grow at a compound monthly growth rate of 25%.”

“Real-time payments (RTP), the emerging standard in U.S. billing and payment processing, continues to gain traction among businesses with nine out of 10 business leaders reporting interest in the network, according to Citizens Commercial Banking’s second annual Real-Time Payments Outlook. The nationwide survey of 252 corporate decision-makers found that only 9 percent currently have no plans to implement RTP, which is the biggest upgrade to the U.S. payments system since the Automated Clearing House (ACH) in 1974.”

“Bankers’ Bank , a correspondent bank that specializes in providing banking products to community banks, is now live with its Funding Agent solution and is providing funding and liquidity management services for IncredibleBank℠ on the RTP® network developed by The Clearing House.”

“Jack Henry & Associates, Inc.® (NASDAQ: JKHY), a leading provider of technology solutions and payment processing services primarily for the financial services industry, continues to scale its RTP® network connectivity and for the first time five banks have joined the network on the same day. Dogwood State Bank, Raleigh, NC; First Fidelity Bank, Oklahoma City, OK; National Bank of Texas, Fort Worth, TX; Royal Bank, Elroy, WI; and Signature Bank, Rosemont, IL connected to the RTP network through JHA PayCenter™, marking the beginning of the scalable expansion of the nation’s newest real-time payments infrastructure.”

“ACI Worldwide, a leading global provider of real-time electronic payment and banking solutions, today announced it is accelerating real-time payments modernization for its customers globally through new digital overlay services. ACI, through collaboration with Mindgate Solutions, now delivers value-added digital overlay services through its UP Real-Time Payments solution, enhancing customer experience while strengthening real-time payments offerings.”

“Huntington recently launched a real-time payments capability for its customers leveraging the RTP® network, the first new payment rail in the United States in more than 40 years. Consumer and business customers can now receive payments directly into their accounts with real-time receipt confirmation and nearly instant availability. The real-time payments capability also provides improved communication between payers and payees, including messaging.”