Payments News

TCH Forges on with Its Real-Time Payments Network as the Fed Crafts a Rival Service

Aug 27, 2019

The private-sector operator of the only national real-time payments network wasn’t too enthused when the Federal Reserve announced earlier this month that it would launch a rival service in 2023 or 2024, but the Fed’s move sparked at least a temporary windfall for The Clearing House Payments Co.

“One of the things that the announcement has done is, it’s created a great deal of interest in (TCH’s) network, and our actual number of inquiries that we’ve been getting has tripled,” Steve Ledford, Real Time Payments Network product executive at The Clearing House, said Tuesday.

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