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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.
A separate survey found that 92 percent of bank and credit union (CU) respondents expected that implementing the RTP network would “benefit” corporate clients , for example. Banks and CUs with the technical know-how may choose to forge direct connections with payment rail providers to get more control over how they use the service.
Mastercard and The Clearing House (TCH) have announced an extended multi-year partnership, bringing the companies together to collaborate on innovative capabilities for consumers, businesses and governments to evolve and embrace the digital economy through real-time payments (RTP) adoption on the RTP® network. demand deposit accounts.
In June , Payrailz announced that it had established status as a third-partyserviceprovider to connect financial institution clients into The Clearing House’s RTP network. The company was named one of the “2019 Best Places to Work in FinTech,” a project of SourceMedia and Best Companies Group.
The company wrote in a blog post , “Earlier this month, we became aware of unusual activity involving a third-partyserviceprovider.” DoorDash has announced it was the victim of a data breach in May.
While traditionally, banks have controlled the infrastructure, hardware and operating systems for financial services, new entrants may have the agile infrastructure and innovative propositions to personalize to meet individual consumer needs. There is growing ambition to link up domestic systems to deliver cross-border, real-time payments.
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