FORT LAUDERDALE, Fla., April 25, 2017 (GLOBE NEWSWIRE) -- The first real-time payments system, available to all financial institutions nationwide, will soon become a reality. Push Payments, a real-time payment API gateway, will expand the reach of TCH’s new real-time payment system.
TCH’s new Real-Time Payment (RTP) system will clear and settle in real-time, providing a seamless settlement process for banks and their customers. Push Payments currently provides payment processors, banks, and mobile providers the ability to move money in real-time between bank accounts, offering a simple API interface to perform payment transactions while providing validation, on-boarding, clearing and settlement services.
“TCH’s Real-Time Payment system is the perfect fit for Push Payments. As a real-time payment gateway, we are the industry’s on-ramp to the instant payment superhighway. Our TCH relationship will enhance our service and settlement solutions while providing extra value for our banking partners and customers,” said Travis Dulaney, CEO of Push Payments.
The TCH RTP system, an ISO 20022 formatted payment rail, couples nicely with the “Payments with Payload” functionality of Push Payments, thus providing financial institutions, online banking and accounts payable companies with an integrated process and the ability to provide both payment and data in the same transaction.
Keith Gray, Vice-President of Sales and Business Development at The Clearing House, said, “We are excited to have Push Payments supporting our real-time payments initiative. Real-time payments access products, like that being developed by Push Payments, will give banks additional choice when evaluating solutions for network access. Push Payments shares in our vision of a ubiquitous real-time payments network on which innovative new business models can be developed.”
The two organizations, Push Payments and TCH, are key members of both the Federal Reserve’s Faster Payments & Secure Payments Task Forces.
About Push Payments
Push Payments provides payment processors, banks, and mobile providers the ability to move money in real-time between bank accounts.
The slow, painful and complex process of interfacing with large payment networks is no longer an issue with the intuitive Push Payments platform. Having built a revolutionary switching platform, customers gain the infrastructure necessary to achieve an unprecedented advantage over competitors.
Simple, secure and smart API interfaces empower banks and their fintech partners to create better user experiences and best in class market solutions via instant money movement.
For more information, visit www.pushpayments.com.
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