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Modern Treasury , essential infrastructure for the new era of payments, has announced that it has expanded instant payments support for mutual customers of six leading banks — Bank of America, Cross River, JPMorgan Chase, PNC Financial Services, U.S. Instant payments, powered by the first new payment rails in the U.S.
Waterhouse said the big evolution for the year ahead will involve taking what are now typically debit transactions like check or automated clearing house (ACH) debit and migrating those to the RTP network combining a Request for Payment (RfP) with a consumer authenticated RTP payment. The EIP Rollout. However, with U.S.
Panelists included Sarah Billings , PNC’s senior vice president and head of payments product, operations and strategy; Bridgit Chayt , Fifth Third Bank’s senior vice president and director of commercial payments and treasury management; and infrastructure expert Domenico Scaffidi of Volante Technologies. The Rails Themselves .
RTP adoption has since spread across myriad industries and usescases, ranging from companies paying suppliers, each other and their consumers to government entities making payouts to firms or individuals. These struggles make the capabilities of RTP — especially its “request to pay” options — even more compelling.
The solution leverages the RTP network from The Clearing House for real-time payments clearing and settlement capabilities, allowing suppliers to receive instant access to funds, as well as detailed information about the transaction. Through this program, together we can bring speed and transparency to these critical business payments.”.
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