TCH Phase 1 – eCom Wallet

Posted on September 8, 2022 by InsidePmts

Short blog – 80% confidence

© Starpoint LLP, 2022. No part of this site, blog.starpointllp.com, may be reproduced in whole or in part in any manner without the permission of the copyright owner.

Phase 1 of TCH’s token efforts will be in SRC model. A bank branded “wallet” acting in the DCF role for TCH PIs . Just as VAC has enabled the elimination of physical hardware for acceptance, issuers see a plastic-less future for cards. They want to own the issuance of cards and want much more than a token, they want the entire “wallet”.

Go to market is either as:

TCH as SRC System, or
Visa as the SRC System for all TCH banks (V and MA) with TCH is a “unique role” managing all consumer data, registration, payment tokenization, …

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Google/FedNow + Banks Hire New Network CEO

Posted on August 19, 2022 by InsidePmts

© Starpoint LLP, 2022. No part of this site, blog.starpointllp.com, may be reproduced in whole or in part in any manner without the permission of the copyright owner.

September 7

This blog is dated so I removed most of the content. Key Updates – 21 Jan 2023

Banks gave up on their own AUthentify Wallet launch and jumped on board a “white label” SRC wallet led by Visa (See 23Jan2023 WSJ)

Banks have been working on mobile payments for 13 years through TCH (see blog).

Inital pitch was at Money 2020, big retailers didn’t bite (see blog)

The wallet is not owned by EWS, but a new payment network led by James Anderson. The ownership of this new network is the same at EWS (see blog below).

Competitor is Apple.. the banks want to own the mobile payment experience. Google is working with the TCH banks and is also working with FedNow (long blog coming on this one)

TCH RTP effort focus has move to commercial flows and bill payment.. 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 are actually “network tokens” with token vault as TCH

Apple is not involved in any of these activities, yet Google is working to pilot both FedNow and TCH RTP to leverage their India UPI success.

The banks have just hired James Anderson as CEO of a new banking consortium 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.