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Principale » US Banks Officially Launch Their Real-Time Payment System

US Banks Officially Launch Their Real-Time Payment System

15 Novembre 2017

The Clearing House (TCH) has launched its 24×7 real-time payments (RTP) system, the first new core payments infrastructure in the USA in more than 40 years. Open to all USA depository institutions, the system is expected to be used by banks holding more than half of all deposits by the end of 2018 and to be "ubiquitous" by 2020.

The first ever real-time payment on the system was initiated between BNY Mellon and US Bank.

The system helps the USA catch up with other developed countries, such as the United Kingdom, which has had its Faster Payments scheme in place for almost a decade.

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This, says TCH, means RTP will support more seamless and efficient e-invoicing, bill pay, insurance claim payments, cash on delivery payments and more.

TCH explains that RTP is created to support the transfer of funds, request payments and provide information to deal with back office reconciliation issues.

BNY Mellon and US Bank carried out the first transaction of the RTP (short for real-time payments) network at approximately 5pm yesterday, moving $3.50 Dollars through two different accounts - for the same customer - at the two banks.