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US banks launch RTP – real-time payments network
The Clearing House (TCH) has launched RTP, its real-time payments system, the first new core payments infrastructure in the US in more than 40 years. The new RTP system was designed and built through the collaborative effort of TCH’s 25 owner banks and meets the objectives of the Federal Reserve Faster Payments Task Force. RTP [...]
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Real time payments: Towards speed and transparency
While payments might seem ‘instant’ to those engaged in the transaction, the reality is, apart from cash, they are generally not. Real time clearing is what happens when you hand over a bank note. It is generally not the case when you make a card, mobile or internet payment. These take time to process, as [...]
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Global non-cash transaction volumes record highest growth of past decade
Global non-cash transaction volumes grew 11.2% during 2014–2015 to reach 433.1 billion, the highest growth of the past decade, and slightly above last year’s World Payments Report prediction (Figure 1.1). Two regions fuelled this increase: Emerging Asia with a growth rate of 43.4% and CEMEA (Central Europe, Middle East, and Africa3), with 16.4% growth. Expansion [...]
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EBA Clearing’s RT1 real-time platform goes into testing with 30 banks
UniCredit has started testing with the first pan-European instant payment solution, RT1, in preparation for its instant payments go-live. The real-time payments product will first become available to UniCredit customers in Italy and Germany – some 30 other banks have already signed up to the initiative. UniCredit is one of the first banks preparing to [...]
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P2P payments market sizing and introduction of real-time payments
The ongoing development of the P2P payments market has continued its dramatic growth as the market players continue to evolve. The past year has brought seismic changes, including new value propositions, such as in-app payments for products and services, and new real-time payment capabilities finally being offered or announced for 2017 launch, notably with ZelleSM. [...]
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