Part 1 – Current US Routing Rules
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IMPORTANT – Update 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
Why should you read this? The top ~25 banks have been working on this for over 10 yrs and now Google and Apple are involved.