TCH – Real Time Payments

TCH’s RTP service is capable of much more than just P2P, particularly given its role in tokenization of all cards. I was rather surprised to hear 5 of 6 top banks would rather work with PayPal than Visa/MA on this.. (And this was a KEY reason I moved to buy Paypal stock 24 mo ago).

NOTE – Aug 2022 – this blog is a tad wrong about the Zelle settlement process. Zelle uses its own organic settlement system from the Pariter acquisition and provides TCH with a net settlement file some of which may be processed on RTP.

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Its been 18 mo since my last TCH update. As a quick refresh, the reason everyone cares about the TCH project, is that TCH is the ONLY place that the top 6 bank CEOs get together to collaborate on payments. TCH operates CHIPS (the largest private ACH network in the world), settling around $1.5T of payments PER DAY (think stock market, B2B, V, MA… everything). Within the ACH scheme every member bank has a settlement account and a nightly Net Settlement process is run. 

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