Remove End User Remove On-Demand Remove RTP
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The Clearing House: RTP Network Drives New Use Cases, Creates Value For SMBs This Holiday Season

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The Clearing House 's RTP network is now several years old, and while the real-time payments capability is gaining traction, adoption in the B2B landscape remains muted. The global pandemic has led to an increase in RTP adoption, as businesses find themselves unable to get to the office to print and send paper checks.

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How Corporates Are Driving US RTP Adoption

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.’s push for real-time payments is led by The Clearing House, which aims for ubiquity of its real-time payments (RTP) network by 2020. The financial institution announced Tuesday (June 18) its collaboration with Finastra to connect corporate clients into the RTP network directly via Finastra’s Fusion Global PAYplus solution.

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The Not-So-Beaten Path To B2B Payments Real-Time Ubiquity

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That is to say, mass adoption will take time, and the factors driving that adoption will almost certainly continue to change and shift as end users’ needs do the same. Among corporates, there is an increasing demand that their global payment activity is able to keep up with the pace of doing business.

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The Real-Time Disruption Of Banking And Business

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Faster payments are only one example of the effects of a world moving toward real-time everything, with growing customer demands driving change in the way banks and businesses operate themselves. As such, the consequences of real-time payments aren’t solely impacting consumers’ peer-to-peer ( P2P ) transaction activity.

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Faster Payments: Does The Fed Have A Hidden Agenda?

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This new feature, available to PayPal customers in good standing, leverages the company’s partnership with Chase, and Chase’s connection to The Clearing House’s RTP network, to move money instantly into the bank accounts of consumers and SMBs. Then came PayPal’s debut of Instant Transfer to Bank. No date has been given for that process.

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How FinTechs View Emerging B2B Payment Innovations In 2020

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And he said the opportunity surrounding cross-border real-time payments (RTP) will have the most significant impact on end-users due to the “potential implications” for changing how the FinTech conducts business. Blockchain.

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How Open Banking Drives Real-Time Payments Traction

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Both are key to addressing the modern demands of end-users. Kovacs pointed to The Clearing House ’s real-time payments service, RTP, as an example of this. While the most highlighted benefit of RTP is the speed with which funds can move, there are add-on benefits that can boost efficiency of banks’ back-end operations.