While the Federal Reserve Board mulls an entry into the business of real-time payments, a major competitor is already racking up impressive gains among U.S. financial institutions. The Clearing House Payments Co. L.L.C., the New York City-based company that, among other services, operates one of only two switches for the …

The world currently has 40 real-time payments systems versus only 25 just a year ago, payment processor Fidelity National Information Services Inc. (FIS) reported Wednesday. What’s more, five such programs are under development, and another 16 should be live in 12 months to 18 months, Jacksonville, Fla.-based FIS says in …

Finastra, a banking-technology services firm, announced PNC Bank, a unit of The PNC Financial Services Group Inc., is using its services as part of the bank’s participation in RTP, the real-time payments service from The Clearing House. Fifty-percent of U.S. banks plan to increase their investments in real-time payment systems in …

Unless there is a potential fraud issue or customer dispute, very few of the trillions of transactions that cross U.S. electronic payment networks annually attract any attention. But the first transaction last month on The Clearing House’s new real-time payments system was so different that BNY Mellon, the bank originator, …

Unless there is a potential fraud issue or customer dispute, very few of the trillions of transactions that cross U.S. electronic payment networks annually attract any attention. But the first transaction on The Clearing House’s new real-time payments system was so different that BNY Mellon, the bank originator, invoked the …

The Clearing House’s much-anticipated real-time payments system, dubbed RTP, went live late Monday afternoon, ushering in a new era of faster electronic payments in the United States. The transaction between The Bank of New York Mellon Corp.’s BNY Mellon subsidiary and U.S. Bancorp’s U.S. Bank was completed at 4:59:40 p.m. …