Instant Payments, Interbank Settlement and TCH

FedNow’s Montgomery: Gearing Up For 2023-24 — And Instant Payments Competition

PYMNTS

OCTOBER 12, 2020

In an interview with Karen Webster, Boston Federal Reserve Chief Operating Officer and FedNow Program Executive Ken Montgomery said the central bank’s ambitious payments initiative remains on track — and will inject competition into the instant payments market. We can also see opportunities for small and medium businesses.

Instant Payments

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

PYMNTS

FEBRUARY 4, 2019

Another solution is designed to accelerate payments beyond even same-day offerings. TCH, which is co-owned by 25 banks, launched Real-Time Payments (RTP) in November 2017. The new rail facilitates 24/7 payment clearing and settlement in real time. The Clearing House (TCH), for instance, has voiced its opposition.

Faster Payments

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Payments Space

FedNow’s Montgomery: Gearing Up For 2023-24 — And Instant Payments Competition

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

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