BNY Mellon claims 40-year payment leap
November 14, 2017

BNY Mellon announces that it has originated the financial industry's first-ever payment on The Clearing House's (TCH) Real-Time Payments (RTP) network, which launched today.

BNY Mellon adds that it has been a pioneer, working closely with TCH to design and develop the RTP infrastructure. RTP is the first new core US payments infrastructure since the ACH network was introduced in 1974. Other banks are now joining in a broader consortium that will soon begin processing RTP transactions.

RTP allows consumers and businesses to send and receive funds and messages in real time, 24/7/365, directly from their bank accounts without creating accounts on other services. It allows people to exchange payments more quickly, more safely, and more efficiently than via current payment rails. It supports complex digital commerce services with integrated messaging that allows issuing and paying of e-invoices, e-bills, and requests for payment. It provides rich remittance data, confirmation of delivery, and requests for information or return of funds as well.

BNY Mellon now offers its RTP solution to its bank and corporate clients through their existing payments accounts and services so that clients can "plug and play" the new capabilities as they see fit.

BNY Mellon clients using RTP will be able to:

Access a gateway solution and API services for payments processing, payments tracking, and other core services;

Select –la-carte from a variety of core service offerings and components that make up the entire solution;

Incorporate RTP capabilities into any internal systems, formats, processes, and potential business scenarios;

Use existing user interfaces for payments to access every RTP message type, including requests for payment, acknowledgments, requests for information, and requests for return of funds;

Utilize the fraud monitoring, liquidity management, and operational expertise required within BNY Mellon's own service model;

Initiate RTP payments via APIs, file transfers, and the internet.

BNY Mellon is one of a network of owner banks of The Clearing House and a direct participant in the new network.





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BNY Mellon announces that it has originated the financial industry's first-ever payment on The Clearing House's (TCH) Real-Time Payments (RTP) network, which launched today.

BNY Mellon adds that it has been a pioneer, working closely with TCH to design and develop the RTP infrastructure. RTP is the first new core US payments infrastructure since the ACH network was introduced in 1974. Other banks are now joining in a broader consortium that will soon begin processing RTP transactions.

RTP allows consumers and businesses to send and receive funds and messages in real time, 24/7/365, directly from their bank accounts without creating accounts on other services. It allows people to exchange payments more quickly, more safely, and more efficiently than via current payment rails. It supports complex digital commerce services with integrated messaging that allows issuing and paying of e-invoices, e-bills, and requests for payment. It provides rich remittance data, confirmation of delivery, and requests for information or return of funds as well.

BNY Mellon now offers its RTP solution to its bank and corporate clients through their existing payments accounts and services so that clients can "plug and play" the new capabilities as they see fit.

BNY Mellon clients using RTP will be able to:

Access a gateway solution and API services for payments processing, payments tracking, and other core services;

Select –la-carte from a variety of core service offerings and components that make up the entire solution;

Incorporate RTP capabilities into any internal systems, formats, processes, and potential business scenarios;

Use existing user interfaces for payments to access every RTP message type, including requests for payment, acknowledgments, requests for information, and requests for return of funds;

Utilize the fraud monitoring, liquidity management, and operational expertise required within BNY Mellon's own service model;

Initiate RTP payments via APIs, file transfers, and the internet.

BNY Mellon is one of a network of owner banks of The Clearing House and a direct participant in the new network.



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