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September 7 BEFORE YOU READ. This blog is dated. 3 key updates
- The launch was a very small TCH RTP effort. Forbes Article on Launch of Pay by Bank using TCH. Google’s role seems to be limited to hosting servers in the Google Cloud. This was NOT the big announcement I thought was coming. It looks like the TCH tokens in Google Wallet will be a few more months away.
- TCH’s primary focus this year is an eCom wallet focused on the Secure Remote Commerce Model (see blog)
- Neither Apple nor Google are involved in any of these activities, yet Google is working to pilot both FedNow and TCH RTP to leverage their India UPI success.
Something is launching next week (rumor 8/23 pilot) with Google, TCH and at least 4 banks. The banks have just hired a new CEO to run it with a “network background”. This is likely a new consortium, and we will see changes in where the assets of TCH, Akoya and Early Warning line up. This CEO will be tasked with creating a new network to “compete with ApplePay” as the premier mobile payment platform.