Payments News
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Systems

Cash May Not Be King, but It’s Still Royalty

“Yet digital’s gain isn’t necessarily coming at the expense of cash. The overall pie still appears to be growing. Only two countries, Russia and Sweden, had a net substitution of cards for cash from 2007 to 2016, with cash in circulation shrinking as card payments grew, according to the Bank for International Settlements. In other […]

On The Web

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Systems

The Clearing House To Raise RTP Transaction Limit to $100,000

“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 […]
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Systems

Jerome Powell: Fed ‘Seriously Considering’ Faster Payments System

“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 […]

On The Wires

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Systems

First 15 Financial Institutions to Join the RTP Network Through Jack Henry & Associates

“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.”
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Systems

Wells Fargo Launches Ability to Send Payments on 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 […]
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Systems

MUFG Union Bank Launches Real-Time Payments for Clients on the RTP® Network

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 […]
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Systems

HSBC Bank USA Now Offers Business Clients the Ability to Send and Receive Payments in Real Time | The Clearing House

“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 […]