PYMNTS

OCTOBER 12, 2020

As reported in August, the Fed had announced some additional details of the 24/7 year-round interbank settlement service through a program that began to take shape in 2019, geared toward speeding processing times tied to instant payments (and featuring a clearing function). Looking Toward Interoperability And Scale .

Instant Payments 97

Instant Payments FedNow Fed Interoperability 97

PYMNTS

AUGUST 7, 2020

Federal Reserve Board members this week shed some light on the timing and mechanics of FedNow — an always-on, fully interoperable interbank-settlement service that will give rise to instant payments in the United States. Clearing House has the RTP network. If all goes as planned, that is. In a Thursday (Aug.

Instant Payments 75

Instant Payments Fed FedNow Interbank Settlement 75

PYMNTS

FEBRUARY 4, 2019

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 Independent Community Bankers of America and the CUNA requested that the Fed system be interoperable with the private sector’s real-time payment rails. .

Faster Payments 73

Faster Payments Federal Reserve Real Time Payments TCH 73