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Corporate America Credit Union To Serve As RTP Funding Agent

PYMNTS

The Corporate America Credit Union (CACU), which serves almost 500 credit unions (CUs) around the world, has become a funding agent for the RTP network, The Clearing House ’s (TCH) real-time payments network, according to a release.

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Mastercard and The Clearing House deepen their partnership to zero in on new instant payments applications 

Tearsheet

“Beyond extending our partnership with Mastercard, we intend to partner on innovating for the banks that use the network by looking for additional use cases that they’ve expressed interest in and that would help drive volume across RTP,” said Lee Alexander, Executive VP and CIO at The Clearing House.

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Mastercard and The Clearing House extend partnership on real-time payments

Fintech Finance

Mastercard and The Clearing House (TCH) have announced an extended multi-year partnership, bringing the companies together to collaborate on innovative capabilities for consumers, businesses and governments to evolve and embrace the digital economy through real-time payments (RTP) adoption on the RTP® network. demand deposit accounts.

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Happy First Birthday FedNow: But is This a Cause For Celebration?

The Fintech Times

Up to this point, US financial institutions have relied on The Clearing House ‘s (TCH) Real-Time Payments Network (RTP), run by big banks. Banks have a difficult choice between TCH’s RTP network and the new kid on the block, FedNow. In fact, in 2023 , real-time payments only made up one per cent of all payments in the country.

FedNow 59
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A Comprehensive Guide to FedNow

Payment Savvy

Liquidity Management Tool To manage liquidity in this system, the FedNow service will offer a liquidity management tool. Regulatory compliance: Banks are required to meet certain liquidity standards set by regulators. A liquidity management tool helps banks stay compliant and avoid penalties.

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Deep Dive: Weighing The Federal Reserve’s Faster Payments Proposal

PYMNTS

SDA credit funds were required to be made available to depositors by 5 p.m. TCH, which is co-owned by 25 banks, launched Real-Time Payments (RTP) in November 2017. Community banks and credit unions also offered their backing. in the time zone of the receiving depository financial institution beginning in March 2018. .