Fiserv, TCH Team on Expanded Real-Time Payments Access

The Clearing House and Fiserv will be partnering on a new way to simplify and bolster real-time payments for both consumers and businesses, the companies announced Monday (May 2).

Fiserv’s financial institution clients will be able to access The Clearing House’s RTP network, getting a broad level of support for payment services through Fiserv’s NOW Gateway. The NOW Gateway reportedly acts as a way for financial institutions to latch onto an access point to support real-time payment options in a market that has been changing.

Financial institutions will be able to integrate with NOW Gateway to offer a range of various real-time payment services, including Zelle peer-to-peer (P2P) payments, payouts for gig economy work or insurance claims, interbank account transfers and real-time bill payments.

The release noted that the implementation could help forge better trust and unity with customers, particularly as they send and receive money for various life situations. Matthew Wilcox, president of digital payments and data aggregation with Fiserv, said the sheer amount of demand for real-time payments made it necessary to make a move.

Wilcox said there had been double-digit year-over-year growth for the company on those types of payments, so the company is “committed to making real-time implementation easier for any financial institution.”

Russ Waterhouse, executive vice president of product and strategy at The Clearing House, said the partnership would be fruitful because the companies could “provide financial institutions with an accessible real-time payment offering that will deliver significant benefits to their customers and provide competitive advantage.”

Fiserv also recently debuted AppMarket, which gives financial institutions access to a curated set of FinTech solutions to help with customer outreach and operating speed.

Read more: Fiserv Launches AppMarket Open Finance, FI/FinTech Collaboration Tool

As PYMNTS wrote last week, the solutions include open finance strategies regarding cryptocurrency, gig economy banking, small- to medium-sized business lending and more. These solutions can also be helpful when attracting younger customers, the company said.