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News : FIS and The Clearing House Prepare Real-Time Payments to Go Nationwide
Jacksonville, FL, USA, April 18, 2016 -- The United States’ real-time payments system, available to all financial institutions nationwide, is nearing reality thanks to FIS™ (NYSE: FIS), a global provider in financial services technology, and The Clearing House Payments Company L.L.C. (TCH).
The companies are preparing to launch a pilot with early-adopter financial institutions, initially focusing on the bill payment use case, using FIS technology and operating via the TCH real-time payments platform. Already under development, the pilot will go live in the first quarter of 2017, and bring payments that clear and settle in real-time to the pilot financial institutions. TCH, which owns and operates the system, has partnered with FIS, who will use the system to develop new services and eventually connect its financial institution clients.
"This is a critical initiative, designed to transform the payments landscape in the U.S.," said Anthony Jabbour, chief operating officer, Banking & Payments, FIS. "The Clearing House asked FIS to lead this pilot program and we’re honored to play such a pivotal role."
"Not only is FIS helping us bring this system to market quickly, they are also going to play a key role in helping us achieve ubiquity in the U.S," said Russ Waterhouse, executive vice president, Product Development and Strategy at The Clearing House.
Posted by Veronica Silva Cusi, news correspondent
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Published: Tuesday, April 19, 2016