Payments News
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Systems

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

January 31 2020

“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

January 24 2020

“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

Aruba’s Banks Switch to Instant Payments

March 6 2020

“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 […]

On The Wires

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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

November 19 2019

“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 […]
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Systems

Wells Fargo Launches Ability to Send Payments on the RTP® Network

November 19 2019

“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

January 24 2020

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

SHAZAM Announces Commitment to Support The Clearing House Real-Time Payments Network

March 2 2020

“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 […]
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Reports

COVID-19 Crisis Highlights Need for Real-Time and New Digital Payments Services Around the World, New ACI Worldwide Research Reveals

April 1 2020

“More than half a trillion real-time payments transactions will be processed over the next five years, according to Prime Time for Real-Time , a new global report from ACI Worldwide (NASDAQ: ACIW) and Global Data . This industry-first research, which analyzes global real-time, account-to-account payment volumes and forecasts across 30 global markets, projects a Compound […]