Thousands of financial institutions will be able to simplify and accelerate the enablement of real-time payments for consumers and businesses as the result of a collaboration between The Clearing House and Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions. Fiserv financial institution clients will be able to access The Clearing House RTP® network and support a broad range of consumer and commercial payment services via NOW® Gateway from Fiserv.
NOW Gateway is a flexible access point that financial institutions can use to offer real-time payment options in a changing market. Through a single integration to NOW Gateway, financial institutions can offer their customers access to a broad range of current and emerging real-time payment services including Zelle® person-to-person payments, payouts for gig economy work or insurance claims, interbank accounts transfers, and real-time bill payments. Financial institutions will be able to connect the NOW Gateway to the RTP Network to send and get real-time payments for their customers. The RTP network connects with over 60% of U.S. banks.
“The demand for real-time payments continues to accelerate, as evidenced by the consistent double-digit year-over-year growth we see in real-time P2P payments at Fiserv,” Matthew Wilcox is president of Digital Payments and Data Aggregation, Fiserv.. “To remain competitive, financial institutions must offer real-time payment capabilities. That’s why we are committed to making real-time implementation easier for any financial institution, from regional banks to community banks, to credit unions. Our work with The Clearing House to integrate the RTP network with our NOW Gateway is the latest advancement towards this goal.”
“The RTP network has seen substantial recent growth, and we will continue to expand the power of real-time payments with Fiserv,” said Russ Waterhouse, executive vice president of Product & Strategy at The Clearing House. “The connection of Fiserv to the RTP network can provide financial institutions with an accessible real-time payment offering that will deliver significant benefits to their customers and provide a competitive advantage.”
Enabling financial institutions to use real-time payment can create stronger trust and utility relationships with customers. It is particularly important when it comes to helping them send or receive money in an urgent situation, avoid late fees, and avoiding service termination. Financial institutions have access to the full range of real-time payment capabilities through Fiserv and The Clearing House.
In a world moving faster than ever before, Fiserv helps clients deliver solutions in step with the way people live and work today – financial services at the speed of life. Learn more at fiserv.com.