SWIFT to Facilitate Instant Payments in the U.S.

User Rating: 0 / 5

Star InactiveStar InactiveStar InactiveStar InactiveStar Inactive
 

SWIFT announces that it will provide U.S. institutions with a gateway to The Clearing House’s real-time payments (RTP) platform. As instant payments become more ubiquitous in the U.S., SWIFT will provide an interface to manage the requirements of sending and receiving domestic instant payment transactions on behalf of customers.

The Clearing House (TCH) is building a new clearing and settlement system to support domestic instant payments in the U.S., allowing consumers and businesses to send and receive payments in real-time and directly from their accounts at financial institutions. It will also include data and non-payment messages that financial institutions can use to build digital commerce solutions. The solution will be commercially available by early 2018.

Steve Ledford, SVP Product and Strategy at The Clearing House, said: “Given its reach and expertise in payments, SWIFT is a great collaborator as we bring a wide-scale real-time payments system to the U.S. market. Achieving our vision of broad adoption of real-time payments will only be possible when the majority of U.S. institutions are able to participate, and SWIFT will be instrumental in helping us meet this goal.”

CONTACT US

  +44 (0) 1903 721 668
  info@microexpert.com

  Microexpert Limited
Gratwicke House
10 East Street
Littlehampton
West Sussex
BN17 6AW, UK
© 2017 Microexpert. Registered number 01755695.

Search