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TCH Updates RTP Tokenization for Checking Accounts and other Digital Transactions News briefs from 5/2/22

  • The Clearing House Payments Co. LLC announced it will soon introduce tokenization for checking account and routing numbers on transactions financial institutions run over TCH’s RTP real-time payments and EPN automated clearing house networks.
  • Of 80 mid-tier U.S. financial institutions surveyed by Volante Technologies, 37% of these not already connected to The Clearing House Payments Co. LLC’s Real Time Payments networks anticipate doing so within the coming year. Separately, 13% said they would connect to FedNow, the Federal Reserve Bank’s real-time payment service anticipated to launch in 2023.
  • The U.S. Senate’s Judiciary Committee will hold a hearing on Wednesday on “Excessive Swipe Fees and Barriers to Competition in the Credit and Debit Card Systems.”
  • Amadis said its card-acceptance technology will be integrated with a tap-to-pay service from Softpay for use on Android devices.
  • Business-to-business payments provider Veem said it began testing new functions for faster automated clearing house payments and enhanced card options.
  • Advanced Fraud Solutions named Jordan Bothwell vice president of strategic partnerships. Bothwell’s more than 10 years of experience includes her most recent position of AFS’s director of business development and strategic initiatives.
  • PayPal Holdings Inc. said its small-business clients will be able to shop for, purchase, and manage insurance coverage through insurer Aon’s CoverWallet service on PayPal’s Commerce Platform.
  • Mastercard Inc. and actor Sterling K. Brown are supporting the Stand Up To Cancer charity in a campaign that could donate up to $5 million to the organization.

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