The real-time payments network built by The Clearing House Payments Co. LLC is often viewed as a creature of the big banks, including the ones that own and control TCH, but on Friday it became clear that some of the nation’s smallest financial institutions are ready to sign up for …

By Debra Campbell and Steve Fortson As the banking industry moves toward real-time payments, there are some practical technology considerations that are too often being overlooked, most notably, a growth of fragmented and unstructured connections between the legacy mainframe and the service-oriented architecture (SOA) platforms. Unfortunately, what we are seeing …

Big banks generally aren’t too thrilled about the Federal Reserve taking a direct operational role in a U.S. real-time payment system, but smaller banks and credit unions as well as some big companies support the idea. The Fed’s two-month comment period on its proposed Real Time Gross Settlement service closed …

Three years ago, Mastercard shelled out big money for a U.K. technology firm. As faster payments take hold in the States, the rationale for that deal will soon be put to the test. Back in July 2017, the Federal Reserve issued a challenge to the U.S. payments industry: create a …

If the Federal Reserve decides to compete in the developing market for real-time payments, it will face considerable obstacles, one of which has to do with whether such competition is really needed, according to an official with The Clearing House Payments Co. LLC. The Clearing House, which is recruiting financial …