Mastercard and The Clearing House Extend Partnership on Real-Time Payments
24 Januar 2024 - 3:00PM
Business Wire
Mastercard and The Clearing House (TCH) have announced an
extended multi-year partnership, bringing the companies together to
collaborate on innovative capabilities for consumers, businesses
and governments to evolve and embrace the digital economy through
real-time payments (RTP) adoption on the RTP® network. The
partnership continues Mastercard’s role as the exclusive instant
payments software provider for TCH’s RTP network, enabling both
companies to integrate new instant payment use cases across a range
of payment flows.
Instant payments became a reality in the U.S. in 2017 when The
Clearing House launched the RTP network, the first new payment rail
in 40 years designed and powered by Mastercard. For consumers, RTP
provides instant access and confidence that a payment is received,
24/7. For businesses, RTP enhances value by simplifying payments
for customers, enabling faster wage disbursements, improving
liquidity management, and optimizing capital workflows, and for
governments, it helps activate local economies through disbursement
and settlement.
"Technology is providing consumers and businesses greater choice
in how they want to pay and be paid,” said Linda Kirkpatrick,
President, Americas at Mastercard. “Our long-term partnership with
The Clearing House supports choice in payments through the
enablement of modern and ubiquitous real-time rails for bank-owned
payments. We're pleased to extend and enhance our support of The
Clearing House and its owner banks to deliver on our mutual goals
to provide safety, reliability, and efficiency of real-time
payments."
Today, real-time payments offer speed of payment, extensive data
exchange, real-time messaging, and 24/7/365 availability.
Mastercard and The Clearing House continue to support, invest, and
develop real-time account-to-account technologies that enable the
transmission of rich payment and non-payment data both in the U.S.
for the RTP network and around the world.
“The Clearing House and Mastercard designed and delivered the
RTP network, the premier instant payment platform in the United
States, and have a strong history of working together to deliver
innovative, scalable, and secure products,” said Lee Alexander, EVP
and Chief Information Officer, The Clearing House. “The expanded
partnership will help both companies design the next generation of
instant payment capabilities for financial institutions and their
customers.”
TCH’s RTP network’s faster payment capabilities are available to
financial institutions that hold close to 90% of U.S. demand
deposit accounts. The RTP network was built for financial
institutions of all sizes and serves as a platform for innovation
allowing financial institutions to deliver new products and
services to their customers. Financial institutions can integrate
into the RTP network directly, through third-party service
providers, bankers’ banks and corporate credit unions.
About Mastercard (NYSE: MA) Mastercard is a global
technology company in the payments industry. Our mission is to
connect and power an inclusive, digital economy that benefits
everyone, everywhere by making transactions safe, simple, smart and
accessible. Using secure data and networks, partnerships and
passion, our innovations and solutions help individuals, financial
institutions, governments and businesses realize their greatest
potential. With connections across more than 210 countries and
territories, we are building a sustainable world that unlocks
priceless possibilities for all.
About The Clearing House The Clearing House operates
U.S.-based payments networks that clear and settle more than $2
trillion each day through wire, ACH, check image, and real-time
payments. It is the nation’s most experienced payments company,
with a long track record of providing secure and reliable systems,
payments innovation, and strategic thought leadership to financial
institutions. In 2017, The Clearing House revolutionized U.S.
payments by introducing the RTP® network, which supports the
immediate clearing and settlement of payments, along with the
ability to exchange related payment information across the same
secure channel. These RTP capabilities enable all financial
institutions to offer safer, faster, and smarter digital
transaction services for their corporate and retail customers.
Learn more at www.theclearinghouse.org.
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version on businesswire.com: https://www.businesswire.com/news/home/20240124745602/en/
Media: Raul Lopez Mastercard 914-841-7049
Raul.Lopez@mastercard.com
Greg MacSweeney The Clearing House 212-612-9282
Gregory.MacSweeney@theclearinghouse.org
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