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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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HSBC Now Lets Businesses Send Real-Time Payments 

PYMNTS

The RTP network was developed by The Clearing House (TCH) and HSBC has been working with it and other banks to modernize the U.S. The network moves money in real time between accounts at any U.S. demand deposit accounts. payments industry. depository institution on the RTP network.

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RTP, Blockchain Make Inroads Within Corporations

PYMNTS

Researchers found that 70 percent of demand deposit accounts are managed by FIs with access to the RTP network. Financial institutions (FIs) in the U.S. are increasingly linking into the real-time payments infrastructure of the RTP network, according to a new survey by The Clearing House.

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Data Dive, Moving In And Moving On Edition: Apple, Venmo, Google And Visa

PYMNTS

Since last year, Venmo customers have been able to make an instant transfer to a checking account via a debit card for a 1 percent fee (minimum 25 cents, maximum $100). Venmo is using the JPMorgan connection to the TCH RTP rails to enable the instant account-to-account transfer option. More than 64 percent of U.S.

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Deep Dive: How The Pandemic Is Giving Treasurers An Instant Payments Jolt

PYMNTS

Interest in the Real-Time Payments (RTP) system from The Clearing House (TCH) is growing in the U.S., This form of fraud represented 60 percent of deposit account attacks in 2019, for example, and it cost businesses and banks $15.1 with only 9 percent of businesses in one study claiming they did not plan to integrate it.