Real-time payments are here, and banks, consumers and commercial customers all can benefit from transactions settling instantly. The Clearing House Real Time Payment network (RTP) started processing in 2017, and the Federal Reserve’s FedNow Service is expected to go live in 2023. RTP uses a shared pre-funded joint account to settle transactions, while FedNow will be linked to a bank’s master account at the Federal Reserve.
Zelle began as a P2P service that gave immediate credit to customers but settles transactions later using the Automated Clearing House, and in some cases, settlement occurs via RTP when both banks are capable. Zelle appears to be an instant payment from the user perspective — and it actually is — when it uses RTP to settle transactions in real time.
May 06, 2024
January 25, 2024
November 22, 2023
October 10, 2023
Recorded Webinar | September 13, 2023
Join the fifth and final installment of this five-part webinar series to learn from two FedNow Service banks and a Federal Reserve leader as they discuss their journeys and experiences navigating instant payments readiness and adoption.
Recorded Webinar | May 10, 2023
In part four of this five-part FedNow webinar series, join Dan Baum, Senior Vice President of FedNow Product Development, for a demo of the service.
Recorded Webinar | April 12, 2023
Recorded Webinar | March 16, 2023
This session will cover important operational topics that are top of mind for banks, including reconcilement, accounting changes, reporting, and liquidity management.
May 26, 2022
May 20, 2022
September 1, 2021
August 2, 2021
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