Home Future payments Fiserv, TCH team on access to real-time payments

Fiserv, TCH team on access to real-time payments

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The Clearinghouse and Fiserv will partner to find a new way to simplify and strengthen real-time payments for consumers and businesses, businesses announcement Monday (May 2).

Customers of Fiserv’s financial institutions will be able to access The Clearing House’s RTP network, gaining a broad level of support for payment services through Fiserv’s NOW gateway. The NOW gateway would be a way for financial institutions to lock into one access point to support real-time payment options in a changing marketplace.

Financial institutions will be able to integrate with NOW Gateway to offer a range of various real-time payment services, including Zelle peer-to-peer (P2P) payments, payments for gig economy work or insurance claims, interbank account transfers and real-time bill payments.

The statement noted that the implementation could help build better trust and unity with customers, especially when sending and receiving money for various life situations. Matthew Wilcox, president of digital payments and data aggregation at Fiserv, said the huge demand for real-time payments made it necessary to act.

Wilcox said the company has seen double-digit year-over-year growth for these types of payments, so the company is “committed to making real-time implementation easier for any financial institution.” .

Russ Waterhouse, executive vice president of product and strategy at The Clearing House, said the partnership would be successful as the companies could “provide financial institutions with an accessible real-time payment offering that will bring significant benefits to their customers. and will give them a competitive advantage.”

Fiserv also recently launched AppMarket, which gives financial institutions access to a curated set of FinTech solutions to help reach customers and accelerate speed of operation.

Read more: Fiserv launches AppMarket Open Finance, FI/FinTech collaboration tool

As PYMNTS wrote last week, the solutions include open funding strategies around cryptocurrency, gig economy banking, small and medium business lending and more. These solutions can also be useful in attracting younger customers, the company said.

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