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Early Warning Services announced on October 26th that it has entered into an agreement to acquire clearXchange, which will create a bank-owned real-time payments system with unparalleled DDA connectivity. The transaction is expected to close by the end of 2015, after which seven leading banks will own the combined entity, with PNC Bank joining the [...]

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The Clearing House (TCH) has entered into a letter of intent with VocaLink, the UK-based international payment systems provider, to help build and deliver core elements of TCH’s new real-time payment system for the US. “Building a real-time payment system is centered around meeting customer needs,” said Jim Aramanda, CEO of The Clearing House. “I [...]

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While the outlook for real-time payments in the US market remains fragmented and uncertain for the time being, in Europe the pace of development and usage is quickening and real-time payments (or “instant payments”) is clearly a key strategic topic for today. Instant payment schemes for retail payments based on bank transfer are now present in around [...]

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Global interoperability of real-time payments systems will require harmonisation of market practices and standards. A group of international clearing houses, banks, vendors, payments associations and other parties have proposed setting up an activity to look at how to deliver this under the aegis of the International Standards Organisation – and set an ambitious target of [...]

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