“All the banks in Aruba, an island in the Caribbean Sea, have switched to Instant Payments (IP) utilising the central bank’s Clearing and Settlement Mechanism (IP CSM). The transition was implemented by Worldline-subsidiary equensWorldline. With this move, the islands payment infrastructure changes from batch payments to instant payments. All interbank payments in Aruban currency initiated in Aruba can also be processed instantly.”

“SHAZAM, Inc., a national provider of financial services to community financial institutions, announces its commitment to bringing additional real-time payments capabilities to community banks and credit unions through the RTP® network developed by The Clearing House (TCH). By supporting access to the RTP network, SHAZAM will extend a new platform to community financial institutions that they can leverage to offer new real-time payments and settlement capabilities.”

“The Clearing House Payments Co. LLC, operator of the Real Time Payments network, said Thursday that it will raise the RTP transaction limit from the current $25,000 to $100,000 effective Feb. 1. Steve Ledford, TCH senior vice president of product strategy and development, tells Digital Transactions News the limit is being raised “because there is demand for it, that’s the simple answer.” He says TCH frequently gets requests form bank treasury-management executives saying their customers “need to send more than $25,000. Or, when we talk to corporate practitioners, that’s No. 1 on their list.””

MUFG Union Bank N.A., today announced that receipt of real-time payments is available for its corporate, commercial, and retail clients via the RTP^® network, operated by The Clearing House. The RTP network provides instantaneous receipt of payments, which increases payment certainty and funds availability, with funds immediately available for use. Real-time payments enable MUFG Union Bank clients to improve cash flow, manage working capital, and streamline processes.

“Data Center Inc. (DCI), the privately-owned developer of iCore360® core banking software and related omnichannel technologies, announced a partnership with The Clearing House (TCH) to bring real-time payment transactions to hundreds more community banks nationwide via the connection of iCore360 to the RTP network.”

“Wells Fargo (NYSE: WFC) announced today that its corporate customers can now send real-time payments through the RTP® network via an application programming interface (API), enabling the immediate movement of money and expanding the bank’s faster payments offerings. Wells Fargo previously rolled out capabilities for both retail and wholesale customers to receive payments over the RTP network at the end of 2018.”

“HSBC Bank USA, N.A. (HSBC) announced today the launch of real-time payments capabilities on the RTP® network that allow business and institutional clients of all sizes to pay and be paid immediately with enhanced convenience and security.   With this latest enhancement in HSBC’s implementation of the RTP network these clients began sending real-time payments this morning, having been able to receive real-time payments since July 2019.”

“In June 2019, MoneyGram, one of the world’s largest money transfer companies, announced its plans to implement On-Demand Liquidity (ODL) through RippleNet. Less than six months later, MoneyGram Chairman and CEO Alex Holmes announced on stage at Swell 2019 that the company is currently moving 10% of its transaction volume between the United States and Mexican borders through ODL and plans to expand into four more corridors by the end of this year.”

“Jack Henry & Associates, Inc. ( JKHY ) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. The company announced today that the first 15 financial institutions – including Dallas-based Pegasus Bank – will implement JHA PayCenter™ to connect to the RTP® network from The Clearing House.”

“The private-sector operator of the only national real-time payments network wasn’t too enthused when the Federal Reserve announced earlier this month that it would launch a rival service in 2023 or 2024, but the Fed’s move sparked at least a temporary windfall for The Clearing House Payments Co. “One of the things that the announcement has done is, it’s created a great deal of interest in (TCH’s) network, and our actual number of inquiries that we’ve been getting has tripled,” Steve Ledford, Real Time Payments Network product executive at The Clearing House, said Tuesday.”

“Federal Reserve Chairman Jerome Powell has informed lawmakers that the central bank is “seriously considering” moving forward with the development of a faster payments system that would compete with a network built by the nation’s largest financial institutions. In a letter to senators that was obtained by POLITICO, Powell gave his most forceful defense yet of the Fed potentially establishing a new real-time payments system, which would help consumers and businesses make transactions in a speedier fashion.”

“Massachusetts-based Berkshire Bank is to adopt The Clearing House’s real-time payments (RTP) network and has chosen Finastra ’s Fundtech-derived Global PayPlus for connectivity, writes Martin Whybrow. The bank will be among the first regional players in the US north-east to offer real-time payments capabilities. Global PayPlus will provide access to the ISO 20022-based RTP.”

“Real-time payments (RTP) aren’t just faster, they will change the way businesses operate, according to Citizens Bank, which surveyed more than 150 businesses ranging in size from $10 million to more than $500 million. Ninety percent  of businesses expect RTP to dramatically transform the way business is done. Nearly two-thirds of respondents said that RTP will likely mean the end of cash and check payments.”

“As part of this investment, ACI and Mindgate will deliver a joint real-time payments solution that will combine ACI’s proven Universal Payments software solutions with Mindgate’s digital overlay services. The advanced, end-to-end real-time payments solution will be offered to banks, financial intermediaries and merchants in India and other international markets via an on-premise, public cloud or hosted model. This investment will also provide Mindgate with the ability to expand its footprint globally. UPI is a mobile-based, real-time payments platform in India developed and managed by the National Payments Corporation of India (NPCI). UPI enables all bank account holders in India (of banks participating in the UPI scheme) to send and receive money from their smartphones with a single, simple identifier. UPI can be used for Person-to-Person (P2P) payments and Consumer to Business (C2B) payments.”

“PayFi announced today it has committed to bringing real-time payments capabilities to community banks on PayFi’s Branch99TM Real-Time Platform. PayFi will accelerate community banks’ participation in real-time payments on the RTP® network developed by The Clearing House (TCH).”

“Kyriba , the global leader in cloud treasury and finance solutions, today announced the launch of a new service through J.P. Morgan’s API (application programming interface) that allows Kyriba clients that are also J.P. Morgan clients to send real-time payments in the U.S. through The Clearing House’s RTP® network. This is the latest for Kyriba’s growing connectivity options that bridge global financial systems, empowering finance executives to more efficiently mobilize their global cash and liquidity.”

“The four new representatives will join the existing RTP Business Committee which meets monthly and has numerous responsibilities, including providing input and guidance to the strategic execution of the RTP network, ensuring prudent risk management practices are followed, promoting the design, operation, and management of the system so that it delivers safe, efficient, and accessible payments that include appropriate protections for all end users, and establishing, amending, repealing, or restating the rules for the RTP network, among others duties.”

““Our customers and Fintech Partners need financial technology tools that align with their personal and business needs. Providing real-time payments is an important step for us, allowing us to deliver important new functionality to our customers.” said Robert Conery, COO, EVP, Avidia Bank. “Avidia Bank has strategically committed to providing Payment Services comprised of innovative solutions. As existing payment channels evolve and access to faster payment alternatives become ubiquitous in the digital era, we shall leverage this opportunity by partnering with TCH to provide products to both local and national markets.”

“ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic payment and banking solutions , announced today that BMO Financial Group is leveraging its globally-recognized BMO Payment Hub powered by ACI’s Universal Payments (UP) Real-Time Payments solution to accelerate new products to market, such as Zelle’s business-to-consumer (B2C) payments.”

“Saudi Payments, a fully owned subsidiary of the Saudi Arabian Monetary Authority (SAMA), has teamed up with Mastercard company Vocalink with the aim of upgrading the country’s payments infrastructure and boosting the digital economy. The partnership will enable instant payments between financial institutions, businesses and consumers, with instant credit transfers, e-invoicing and billing, real-time payment acknowledgement, remittances, bulk payments and peer-to-peer money transfers.”

“The U.S. payments system is about to dramatically change how our money deposits are held and transferred among banks, credit unions and other depository institutions. The headline for consumers is that we are finally catching up to the rest of the world in terms of being able to send and receive funds practically immediately, and fully replace check writing. The less sexy, but fundamental, question is who will operate this new system. At issue is whether the Federal Reserve should continue to play a competitive, operational role as a payments processor. Or, whether it should stand back and award the payments services network to The Clearing House — an advocacy group and bank services provider that is, in its own words, “owned by the world’s largest banks.””