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When The Clearing House (TCH), the payments firm owned by commercial banks, along with global software and services provider FIS, recently submitted their proposal to the Fed’s Faster Payments Task Force in order to evaluate their real-time payments system proposal, it signified a milestone along the path toward real-time payments.
There are a lot of non-paymentmessaging capabilities that we think will provide tremendous opportunity for innovation.”. TCH recognizes that having access to 10,000+ banks is different than having connectivity to 10,000 banks. And the “delivering value” piece is not to be underestimated in the pursuit of ubiquity.
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