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Podcast: Payments on Fire™
Episode: Episode 66 - Real Time Payments Comes to the US - Steve Ledford of TCH
Description: Payment innovation runs at multiple speeds. Changes in how a payment is initiated happen almost every day. Payments infrastructure change is a lot slower. But it's happening. Nudged forward by the Federal Reserve's Faster Payment Task Force, we are seeing the launch of the first entirely new payment system in decades. Called Real Time Payments (RTP) the new system switched its first real-time payment on November 13, 2017. Built entirely around the rich payment messaging standard ISO 20022, we have a system that can carry both payment instructions and meta-data about the payment. Data rich, essentially instant, bank-fased account to...