Payments Nerds

How North American Banking Company Is Powering Instant Payments with APIs

The Clearing House — Fri, 10 Apr 2026 12:43:05 -0400

Michael Bilski of North American Banking Company and Robert Lewis of Open Payments Network explore how APIs are accelerating instant payment adoption. They discuss real-world implementation strategies, customer demand, and operational lessons learned when it comes to utilizing APIs to quickly enable instant payments over the RTP® network for businesses and their customers. From liquidity management to use cases like lending and payroll, Bilski and Lewis highlight how banks can simplify connectivity and deliver faster, more flexible payment experiences for customers.

Amplify Credit Union Leverages Instant Payments to Drive Growth and Redefine the Member Experience

The Clearing House — Wed, 25 Mar 2026 07:46:42 -0400

Amplify Credit Union’s Stacy Armijo explains how instant payments reshape member expectations, increase loyalty, and grow long-term relationships. Armijo provides details about how instant payments have accelerated deposit growth at her credit union, explains why faster access to money is becoming the new standard, and how credit unions can turn instant payments into a powerful driver of member engagement.

Instant Payments Strengthen Small Businesses: How Square and JPMorgan are Delivering Real-Time Cash Flow to SMBs over the RTP® Network

The Clearing House — Thu, 05 Mar 2026 09:11:17 -0500

In this special syndicated episode from the Leaders In Payments Podcast, Square and JPMorgan reveal how instant payments over the RTP® network are transforming small business cash flow. James Chi, Head of Bank Partnerships and Operations at Block (overseeing partnerships across Square, Cash App, and Afterpay), discusses how Square leverages the reach and capabilities of the RTP network to power instant transfers, giving small business owners immediate access to funds. Chi is joined by Anna Garcia, Executive Director, Real-Time Payments at JPMorgan Chase, who details how the bank partners with Square to power secure, real-time payments over the RTP network, ultimately helping small businesses access funds instantly and operate with greater confidence and control.

Unlocking Liquidity: How CHIPS® Drives Efficiency and Innovation in Global Payments, Featuring John Foran of Deutsche Bank

The Clearing House — Fri, 05 Dec 2025 11:38:46 -0500

This episode explores how The Clearing House is advancing liquidity efficiency through the CHIPS® network. Listeners will learn how the CHIPS network enables over $5 billion in annual liquidity savings for participant banks and strengthens market resiliency through real-time netting. The guests on the show, John Foran, Product Manager at Deutsche Bank, and Michael Knorr, SVP of CHIPS Product Management at The Clearing House, also discuss the impact of ISO 20022 adoption, the move toward 24/7 high-value payments, and the innovations shaping the future of global transaction banking and liquidity management.

The Future of Payments: BNY's Carl Slabicki on How Real-Time Innovation Is Reshaping Global Banking

The Clearing House — Fri, 31 Oct 2025 13:20:00 -0400

In this episode, Carl Slabicki, Executive Platform Owner, Treasury Services at BNY, discussed how treasury services are powering a new era of payments, liquidity, and cross-border efficiency. With trillions moved daily, BNY sits at the heart of global finance – offering a front-row seat to the transformation from batch-based payments to instant, API-driven transactions. Discover how real-time payments, embedded finance, and data insights are redefining competitiveness for banks, corporates, and fintechs worldwide.

Datos Insights on How AI, Faster Payments, and Modernization Are Transforming Banking

The Clearing House — Fri, 24 Oct 2025 13:39:49 -0400

Erica Bauman and Giles Ubaghs of Datos Insights discuss the major themes shaping global banking – from real-world AI adoption and payments modernization to the race for instant, cross-border efficiency. The discussion dives into how banks can move beyond theory to execution, what’s driving innovation, and why faster, smarter technology is key to keeping up with shifting customer expectations in today’s digital economy.

How Instant Payments Foster Financial Inclusion: Suncoast Credit Union’s RTP® Journey

The Clearing House — Fri, 17 Oct 2025 10:49:02 -0400

In this episode, Suncoast Credit Union’s Director of Payment Operations, Brandi Forrester discusses how instant payments are transforming experiences for its members and helping improve financial inclusion. From helping underserved communities access funds faster to streamlining internal operations, Brandi shares Suncoast’s journey to launching real-time payments on the RTP® network. Hear her insights on fraud prevention, implementation, and why speed and accessibility matter most to the members who need it every day.

Sun Credit Union CEO Pat Mason Discusses First Steps with the RTP® Network and Building the Case for Instant Payments

The Clearing House — Tue, 14 Oct 2025 12:06:24 -0400

In this episode, we sit down with Pat Mason, CEO of Sun Credit Union, along with Leslie Payne, Sun’s Director of Accounting, and Barb Kren, Member Success Executive at Corporate One, to discuss Sun’s early experience joining the RTP® network. Just days into their instant payments journey, the team shares insights on building the instant payments business case, gaining board support, and navigating implementation with Corporate One. From member benefits to operational efficiencies, this conversation highlights why the RTP network is becoming a critical payments innovation for credit unions.

Celebrating Women Leaders in Payments: Insights, Stories, and Inspiration

The Clearing House — Thu, 04 Sep 2025 11:13:33 -0400

In this special Payments Nerds® episode, Greg Myers, host of the Leaders in Payments podcast, joins to explore themes that are outlined in the "Women Leaders in Payments" series, including mentorship, risk-taking, and leadership. As a special bonus, you can hear Myers' full interview with Sheffali Welch, COO of The Clearing House, who was part of the "Women Leaders in Payments" series.

Randolph Brooks FCU’s Instant Payments Journey: Building the Business Case

The Clearing House — Mon, 18 Aug 2025 13:18:52 -0400

In this episode, Deana Bartel of Randolph Brooks Federal Credit Union (RBFCU) discusses how the $18 billion credit union built its instant payments business case. From evaluating ACH transactions and digital wallet flows to addressing fraud, compliance, and staffing concerns, RBFCU shares lessons from its launch on the RTP® network. Hear how the credit union is keeping deposits in-house, preparing for send capabilities, and positioning members for faster, more seamless money movement.

How NFTYDoor and Modern Treasury are Transforming Home Equity Lending with Instant Payments on the RTP® Network

The Clearing House — Wed, 30 Jul 2025 10:24:57 -0400

Discover how NFTYDoor is transforming the home equity lending experience with instant payments over the RTP® network. Jonathan Spinetto, NFTYDoor’s Co-Founder, and Ani Narayan of Modern Treasury explore how digital innovation is speeding up Home Equity Line of Credit (HELOC) funding—even on weekends. Learn how automation, real-time payments, and a seamless online process are reshaping lending, improving customer experience, creating a competitive advantage, and giving borrowers quicker access to money when they need it most.

From Use Case to Launch: How GBank Built Its Instant Payments Strategy with RTP®

The Clearing House — Tue, 01 Jul 2025 18:42:04 -0400

In this episode, GBank EVP and COO Tara Campbell shares her journey implementing the RTP® network at two banks—most recently leading GBank’s go-live with both send and receive capabilities. Learn how GBank built a compelling business case for instant payments by targeting the gaming sector, addressed operational and risk challenges, and collaborated with third-party providers. Tara also offers insights on industry trends, education strategies, and why 24/7 payments are becoming essential for financial institutions of all sizes.

How Instant Payments Are Powering Business Innovation

The Clearing House — Fri, 30 May 2025 15:34:36 -0400

Why are corporates turning to instant payments and where are they seeing the biggest returns? In this episode, payments experts Irfan Ahmad, from Bank of America, and Dr. Leo Lipis of Lipis Advisors, explore the possible obstacles to adopting instant payments, how corporations are addresses these challenges, and how adoption of real-time payments by businesses is accelerating. They dive into compelling instant payments use cases, including gig economy payouts, insurance disbursements, factoring for small trucking companies, high-value B2B transactions, and earned wage access. Learn how instant payments are improving cash flow, enabling digital workflows, and creating better customer experiences.

Building the Better Payments Journey: Innovation, Rails, and Customer Experience

The Clearing House — Thu, 22 May 2025 10:38:10 -0400

Building the Better Payments Journey: Innovation, Rails, and Customer Experience

On this Payments Nerds® episode, a powerhouse panel of payments experts unpack the evolving landscape of payments in the U.S. From real-time rails to customer expectations, they explore how innovation, data, and collaboration are reshaping the journey. Discover why seamless, secure, and smarter payments matter more than speed alone—and what it takes to meet diverse needs in a decentralized financial ecosystem.

The Instant Payments Shift to Send: Lessons from the Front Lines of RTP® Adoption

The Clearing House — Thu, 08 May 2025 03:00:00 -0400

In this episode, Colin Eagan of Veridian Credit Union and Kathy Duffer of First Internet Bank dive into how their institutions navigated the adoption of real-time payments. From building the business case and educating executives to analyzing customer data for instant payment trends, and moving from receive-only to send capabilities on the RTP network, they reveal lessons learned, surprising use cases, and the impact on deposit growth and customer behavior. This episode is must-listen for banks and credit unions that are looking to join the real-time payments revolution.

ACH at 51: Surging Volumes, Smarter Payments, and Reliability at Scale

The Clearing House — Thu, 24 Apr 2025 03:00:00 -0400

Devon Marsh from Nacha and Jason Carone from The Clearing House explore the surprising momentum behind the 51-year-old ACH network – and why it’s still growing strong.

From record-breaking volumes to the rising demand for faster payments, they unpack what’s fueling ACH growth and how the network remains the payments backbone of the U.S. economy through reliability at scale. The conversation also touches use cases on ACH, the growing volume of same-day ACH, and why offering multiple payment rails – from traditional ACH to the RTP® network – is more important than ever.

Revolutionizing Payments: HSBC’s Thomas Halpin on the Booming Payments Industry

The Clearing House — Fri, 18 Apr 2025 02:10:00 -0400

Thomas Halpin of HSBC dives deep into the fast-paced world of payments, where innovation, speed, and security are constantly redefining how businesses operate. With growth across all types of payments surging, he explores the rise of real-time transactions, the global shift to ISO 20022, and how cutting-edge technology is reshaping everything from cross-border transfers to instant payments. Halpin shares what HSBC’s payments business is focusing on in 2025, and discusses how businesses are staying ahead in this digital-first landscape.

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Payments Nerds is brought to you by The Clearing House, hosted by Greg MacSweeney, and produced by Walk West.

Instant Payments, Instant Impact: How H&R Block and PNC Bank Are Transforming the Customer Experience with Real-Time Payments

The Clearing House — Fri, 11 Apr 2025 08:43:52 -0400

In today’s fast-paced digital world, customers expect seamless transactions and instant gratification. In this episode Stephanie Hiersche, Treasury Program Manager at H&R Block, and Sarah Billings, Head of Global Payments at PNC, discuss how instant payments are reshaping the customer experience. They examine how H&R Block is reducing older fee refund processes, reducing costs, and improving customer satisfaction with real-time payments. Learn how this relationship is bridging the gap between traditional and digital payments, giving customers more choice, and improving security. Whether you're a business looking to modernize your payment system or just a curious payments enthusiast, this episode dives deep into the evolving landscape of financial transactions.

Why Instant Payments Are Just Getting Started in the U.S. — A Conversation with Two Payments CEOs

The Clearing House — Fri, 04 Apr 2025 17:39:42 -0400

In this episode of Payments Nerds, recorded at Fintech Meetup in Las Vegas, Tom Warsop, President and CEO of ACI Worldwide, and David Watson, President and CEO of The Clearing House, dive into the current state – and future – of instant payments in the United States. From the payments tech being ready and scalable now, to what’s holding back adoption, the game-changing potential of cross-border real-time payments, this conversation explores why instant payments are only at the beginning of their journey in the U.S. market.

Fueling Faster Payments: How Chesapeake Bank is Powering Innovation in Instant Payments

The Clearing House — Wed, 26 Mar 2025 14:32:15 -0400

DJ Seeterlin, President of Chesapeake Payment Systems, joins Payments Nerds at Fintech Meetup to share how Chesapeake Bank became a pioneering early adopter of instant payments on the RTP® network. From supporting small truckers to replacing checks, DJ discusses innovation, risk, and strategy – plus how collaboration and curiosity drive new product development in the payments space.

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Payments Nerds is brought to you by The Clearing House, hosted by Greg MacSweeney, and produced by Earfluence.

ABNB FCU’s Instant Payments Breakthrough: Sending is a Game-Changer for Members

The Clearing House — Tue, 11 Mar 2025 12:36:06 -0400

ABNB Federal Credit Union took a bold step by adding sending capabilities for instant payments in November 2024. The goal? To empower members with seamless money movement 24/7, even during banking holidays. The early results exceeded expectations – 2,300 transactions and over $1.1 million sent in just two months, with an average transaction size of nearly $700. In this podcast, Cassandra Tucker, director of operations at ABNB, discusses how the Virginia-based credit union developed its business case and technology, including implementing multi-layered fraud mitigation tools, to bring instant payment send capabilities to all of its members – proving that smaller financial institutions can be leaders with instant payments.

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Payments Nerds is brought to you by The Clearing House, hosted by Greg MacSweeney, and produced by Earfluence.

The $10 million RTP® Network Transaction Limit: What You Need to Know

The Clearing House — Mon, 27 Jan 2025 10:29:05 -0500

The individual transaction limit on the RTP® Network is increasing to $10 million, marking a significant milestone in the instant payment system’s seven-year evolution. This move aims to address market demand from the more than 285,000 businesses that are connected to the RTP network through their financial institution and expand use cases, such as real estate/title insurance, B2B/supply chain, medical insurance, and other larger-scale payments. Matt Richardson, Executive Vice President at Citizens Bank, and Margaret Weichert, Chief Product Officer at The Clearing House, discuss how the increase is responsive to industry demands and provides businesses with more flexibility to execute payments.

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Payments Nerds is brought to you by The Clearing House, hosted by Greg MacSweeney, and produced by Earfluence.

Leaders in Payments: David Watson on the Rapidly Evolving Payments Ecosystem

The Clearing House — Tue, 31 Dec 2024 05:08:00 -0500

David Watson, President and Chief Executive Officer of The Clearing House, joined the Leaders in Payments Podcast to discuss the rapidly evolving world of instant payments, digital currencies, how The Clearing House has evolved during its 170-plus years in the banking and payments space, career advice for aspiring payments professionals, and the safety and soundness of payments rails. This special episode first appeared on Leaders in Payments earlier this year.

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Payments Nerds is brought to you by The Clearing House, hosted by Greg MacSweeney, and produced by Earfluence.

Leaders in Payments: Margaret Weichert on Mentorship and Team Dynamics

The Clearing House — Mon, 30 Dec 2024 08:05:36 -0500

Margaret Weichert, Chief Product Officer at The Clearing House, joined the Women Leaders in Payments series to discuss her career journey in payments. This episode originally appeared as part of the Leaders in Payments Podcast.

On this special episode, Margaret discusses the complexities of leadership and team dynamics, and she candidly addresses the unique challenges faced by female leaders, including strategies to navigate unconscious biases in the workplace. The episode wraps up with a focus on the importance of mentorship, and how the world of payments is rapidly evolving.

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Payments Nerds is brought to you by The Clearing House, hosted by Greg MacSweeney, and produced by Earfluence.

Evaluating Risk When Adding Instant Payment Send

The Clearing House — Thu, 24 Oct 2024 16:06:27 -0400

For many financial institutions (FIs), adding send capabilities is the next step in the instant payments journey. Moving from being a receive-only bank to one that also offers send requires additional functionality, including more robust fraud scoring, enhanced security features, such as multi-factor authentication or biometrics, and operational and technology considerations.

IncredibleBank, a Wisconsin-based bank with operations in Wisconsin, Michigan, and more recently southern Florida, is adding instant payment sending capabilities to its payments strategy after initially joining the RTP® network back in March 2020 through its technology partner, Jack Henry. In this episode, Phil Suckow, Vice President of Innovation at IncredibleBank, discusses how his team evaluated risk and operational enhancements as the bank moved to add send capabilities.

Payments Nerds is brought to you by The Clearing House, hosted by Greg MacSweeney, and produced by Earfluence.

Adding Instant Payments Send Functionality is a Snap with Planning and the Right TPSP

The Clearing House — Wed, 16 Oct 2024 21:45:35 -0400

While many financial institutions initially join the RTP® network as receive-only participants, adding sending capabilities can be done relatively quickly with a sound business plan, a thoughtful approach, and a great technology partner. ABNB Federal Credit Union, which joined the RTP network a few short months ago (May 2024), is already moving to become a send/receive participant. Cassandra Tucker, director of operations at ABNB, discusses how the Virginia-based credit union planned to add send functionality for all of its members when it started its instant payments journey earlier this year with Alacriti, its technology solutions provider. Tucker walks through how ABNB has prepared risk parameters, safeguards, support, and its entire instant payments plan in this Payments Nerds podcast.

Payments Nerds is brought to you by The Clearing House, hosted by Greg MacSweeney, and produced by Earfluence.

NEACH’s Wrestling Payments Special Episode on Payments Nerds

The Clearing House — Thu, 29 Aug 2024 11:24:11 -0400

Joe Casali, host of NEACH’s Wrestling Payments podcast, joins the show to discuss what he has learned about current instant payments trends while recording his podcast, and previews his interview with Rusiru Gunasena, SVP of RTP® Product Management at The Clearing House. Rusiru joined the Wrestling Payments Podcast earlier this month to discuss the RTP networks growth, how instant payments meet customers’ expectations for real-time interactions, and why they should be part of a financial institution’s customer-centric strategy. Listen to the full Wrestling Payments episode here on Payments Nerds, and don’t forget to subscribe to Payments Nerds and Wrestling Payments on your favorite podcast app.

To hear this episode and many more like it, subscribe to Payments Nerds on Apple Podcasts, Spotify, or anywhere else you listen to podcasts, or listen below.

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Payments Nerds is brought to you by The Clearing House, hosted by Greg MacSweeney, and produced by Earfluence.

Instant Payments Solve Emergency Payroll Challenges for Corporations

The Clearing House — Sun, 05 May 2024 15:46:37 -0400

Making sure employees are paid correctly each pay period is a primary focus of corporate human resources and finance teams, and their payroll provider. Usually payroll runs smoothly and employees are happy to receive their pay. However, often there are payroll exceptions and emergencies that require employers to find alternative ways to get pay to their employees urgently. Given the nature and schedule for payroll, these payroll exceptions often happen at the end of the day or on a Friday, which makes utilizing traditional payment methods – such as checks and ACH – difficult.

Luckily, instant payments on the RTP® network are helping payroll providers and their customers speed up and streamline emergency payroll, resulting in happier employees, and reduced stress on HR and finance professionals. In this episode, hear how ADP, the global provider of talent management and payroll solutions, and J.P. Morgan, are leveraging the instant payment capabilities of the RTP network to both provide employees with emergency payroll instantly and reduce complexity with payroll exceptions.

Payments Nerds is brought to you by The Clearing House, hosted by Greg MacSweeney, and produced by Earfluence.

30. Real-Time Payments Provides Competitive Advantage for Freight Factoring

The Clearing House — Tue, 29 Aug 2023 00:00:00 -0400

In the transportation industry, freight factoring is a vital way for trucking and shipping companies to get paid on quickly for freight and shipments that have been successfully delivered. These payments help trucking companies maintain positive working capital instead of waiting 30 to 90 days for an invoice to be paid by the manufacturer or supplier (the standard payment timeline in the trucking industry is 40 days or more). Lengthy payout times can break a freight company’s budget and force some companies to turn elsewhere to find the funds to cover operating costs. With factoring, a trucking or shipping business sells its accounts receivables (invoices) to a factoring company at a discount for payment within 24 hours.

Now, over the RTP® network, freight, shipping and other companies that need to receive timely payment on invoices can benefit from factoring and receive payments instantly, cutting the time from days to seconds with the ability to receive a payment 24/7.

In this podcast, hear how Quickpay Funding, a factoring provider that helps provide a consistent cash flow to its clients, and Bank of America worked together to bring instant payments to Quickpay Funding’s trucking, shipping, freight, and service industry clients. Juan Estrada, president & CEO of Quickpay Funding, and Miyoshi Lee, head of U.S. Real-Time Payments at Bank of America, discuss how instant payments creates a competitive advantage for Quickpay, and how Bank of America helps its clients take advantage of the benefits of real-time payments.

Payments Nerds is brought to you by The Clearing House, hosted by Greg MacSweeney, and produced by Earfluence.

29. Driving Real-Time Payments Adoption in the Transportation Industry

The Clearing House — Wed, 28 Jun 2023 00:00:00 -0400

Transit agencies and tolling authorities process millions of payments each day. Consumers and businesses pay tolls or mass transit fares to go to work, deliver goods or to simply go on vacation. It is important to make sure that electronic tolling tag accounts or mass transit accounts are funded so customers don’t miss payments or face fines for not paying tolls. Checks take time to process and ACH transactions may only post the next day, leaving a customer with an underfunded account. To reduce underfunded accounts and to help reduce bank account overdrafts, one provider of payment services to the transportation industry is turning to real-time payments on the RTP network. Conduent Transportation is offering real-time payment capabilities to tolling authorities and transportation agencies so that customers can make sure their accounts have the necessary funds. Tolling authorities can also send request-for-payments (RfP) to business users, such as trucking companies, to make sure their tolling account has enough funds to cover tolls for its trucking fleet.

In this episode of Payments Nerds, hear from Kathy Mertes, Vice President of Digital Payments at Conduent, a business process provider, and Eralda Hasani, Director of Immediate Payments Product Management at BNY Mellon Treasury Services, about how instant payments on the RTP network is providing a value-added service that Conduent is offering its customers through its relationship with BNY Mellon.

Payments Nerds is brought to you by The Clearing House, hosted by Greg MacSweeney, and produced by Earfluence.

28. Transforming Real Estate Transactions with Real-Time Payments

The Clearing House — Tue, 06 Jun 2023 00:00:00 -0400

If you have ever participated in a real-estate transaction, either as a buyer or seller, you quickly realize that real estate doesn’t move as quickly as other transactions in today’s economy. This applies to payments as well, which typically still happen by check (most common), wire transfer or ACH payment. All three of these payment types can cause confusion, delays or errors in a real estate deal. To solve some of these payment problems, EMTranfer and KeyBank are brining real-time payments over the RTP® network to the real-estate market so customers, agents, attorneys and almost anyone who gets paid during a mortgage closing can have confirmed, immediate funds without having to worry about last minute checks or ACH payments that won’t settle until the next day.

About Our Guests
Ricky Booth is a Senior Manager of Real Time Payments at KeyBank, and Bob Beams is the CEO of EMTransfer.

Payments Nerds is brought to you by The Clearing House, hosted by Greg MacSweeney, and produced by Earfluence.

27. Grain Leverages RTP® network to Provide Instant Loans to Consumers

The Clearing House — Thu, 25 May 2023 00:00:00 -0400

Consumers often need access to funds to cover an unexpected expense, such as a flat tire or a repair to a faulty hot water heater. While there are a variety of loans available on the market, often the earliest a customer could get money into their bank account was the next day. Grain, which analyzes a consumer’s cash flow to determine eligibility, now sends loan payments instantly to customers via the RTP® network so they can have cash in hand right away – a benefit to the customer and a competitive advantage for Grain, which works with Dwolla and Cross River Bank to connect to the RTP network. Hear about Grain’s real-time payments journey and how it connected to the RTP network in order to provide customers with a better experience and access to funds instantly.

About Our Guests
Yasser Abou-Nasr is the Senior Vice President of Product at Dwolla, and Patrick De Suza is the Chief Technology Officer at Grain.

Payments Nerds is brought to you by The Clearing House, hosted by Greg MacSweeney, and produced by Earfluence.

26. How RTP® Makes Earned Wage Access A Reality for Workers

The Clearing House — Tue, 22 Nov 2022 10:13:41 -0500

The fastest-growing use case on the RTP network is real-time pay and earned wage access (EWA). To give you an idea of how fast it is growing, from Q1 to Q2 this year, Instant Payroll grew 104%! RTP, in particular, makes it possible for wages to be instantly sent to a worker’s bank account … so they can use it just like cash, on the same day to pay bills, buy groceries, or pay emergency expenses.

So what is driving this trend? And is “instant” the future for all payroll? To answer these, and other questions about EWA and instant pay, this episode pf Payments Nerds features Genie Walden, Chief Innovation & Marketing Officer at DailyPay, a leading provider of on-demand pay solutions, and Doug McKinley, Head of Treasury Management Innovation within PNC Bank's Corporate & Institutional Banking group.

The RTP® Network Celebrates 5 years of Real-Time Payments Growth

The Clearing House — Thu, 17 Nov 2022 05:00:00 -0500

RTP, the nation’s newest payments rail, launched in November 2017 and is now celebrating its 5-year anniversary.

RTP transaction volume continues to grow at an average of 10% each quarter, and dollar value also continues to grow at the same pace. There are over 280 banks and credit unions on the network, with more joining each week. And what is really interesting about the growth, is that it is coming from financial institutions of all sizes: more than 80% of RTP participants are from smaller FIs….under $10 billion in assets.

Hear from Sarah Billings, who is senior vice president and group manager for PNC’s Payment Product, Operations and Strategy group, and Rusiru Gunasena, who is Senior Vice President, RTP Product Management and Strategy here at TCH, as they discuss the surprises RTP delivered during the past 5 years, what to expect on the RTP network as we look forward, and how real-time payments are now poised for rapid growth here in the United States.

24. Removing Friction in the Used-Car Sales Process with Real-Time Payments

Sweet Fish — Thu, 28 Jul 2022 03:15:00 -0400

Lithia Motors, one of the largest automobile dealers in the United States and owner of the Driveway.com used-car marketplace, recently started to send real-time payments to sellers on Driveway.com to help remove friction from the payment – which was traditionally done via check, ACH, or sometimes cash. Now, with real-time payments over the RTP® network, sellers can receive payment for their vehicle even before it leaves the driveway.
The result is a smoother sales process that removes the uncertainty with slower forms of payments and gets funds to the seller immediately. Lithia and Driveway are working with US Bank to send the payments over the RTP network.

Listen to George Hines, Senior Vice President, Chief Innovation & Technology Officer at Lithia Motors and Driveway.com, and Mike Jorgensen, Head of Emerging Solutions & Strategy at US Bank, describe how used car sellers are receiving real-time payments for their auto sales.
Listening on a desktop & can’t see the links? Just search for Payment Nerds in your favorite podcast player.

23. CHIPS Liquidity Savings Mechanism is the Most Efficient in the World

Sweet Fish — Mon, 02 May 2022 20:23:58 -0400

CHIPS, the high-value payment system from TCH is highly efficient in its use of liquidity when compared to other major payment systems around the world, and effectively serves as the liquidity savings mechanism for the entire U.S. large-value payments system. It also underscores the nature of CHIPS as an early settlement system that reduces operational risk for participants, end users, and the financial system generally, and distinguishes CHIPS as a critical element of the nation’s payments infrastructure.
Here from Jamie McAndrews, an economic consultant, and he is the CEO of TNBUSA Inc., and Richard Dzina, Senior Vice President, at The Clearing House, discuss how CHIPS more efficiently uses liquidity, which is a benefit not only to the banks on the CHIPS network, but also to the entire high-value payment system in the United States.

22: Real-Time Payments® Can Instantly Keep a Corporate Card Funded w/ Dan Skaggs & Rich Benson

The Clearing House — Thu, 10 Feb 2022 13:18:31 -0500

Real-time payments over the RTP® Network are helping to solve real-life business problems every day. In this episode of Payments Nerds, our speakers discuss real-time payments for corporate cards, which are commonly used by a company’s employees for a variety of expenses including corporate travel, inventory purchases, supplier payments, booking venues for events, and much more.
But what happens when those cards need to be funded, or when a card reaches its limit, but a purchase still needs to be made? That’s where real-time payments over the RTP Network come into play, say our speakers from U.S. Bank and Mediaspace. They describe how real-time payments can help a business keep clients happy, help projects stay on track, and pay suppliers and business partners instantly.
In this episode hear from Rich Benson, Vice President of Finance at Mediaspace Solutions, and Dan Skaggs, Vice President, Corporate Payment & Treasury Solutions at U..S Bank, about how real-time payments help to keep corporate cards funded.
Want to hear more episodes like this? Find us on Apple Podcasts, Stitcher, and the Payment Nerd’s website.
Listening on a desktop & can’t see the links? Just search for Payment Nerds in your favorite podcast player.

21: Navigating RfP: An Important Addition to the RTP® Network

The Clearing House — Mon, 08 Nov 2021 06:00:00 -0500

One of the most exciting enhancements to the RTP® network this year is the production availability of request for payment (RfP). For corporates, RfP provides a business with the ability to send a bill, along with the request for payment, directly to a customer’s banking app, so the customer can review the bill, and pay it all from the app. RfP allows bank and credit union customers to send payment requests to others over the RTP network. This is a game changer for the fragmented bill pay space, where some customers often have a lack of control when bills are paid. Customers sometimes pay through the bank’s app, some pay on the business’s website, some still pay by check, and others use third-party tools.
Hear how Verizon is working with Citi and BNY Mellon to offer Verizon customers the ability to receive their bill in their Citi online or mobile experience, and pay it instantly or schedule it for a later time.
Joining this episode of Payments Nerds is Andrew Haskell from BNY Mellon Treasury Services, Sant Srinivasan from Citi, and Attie Muse from Verizon.
Want to hear more episodes like this? Find us on Apple Podcasts, Stitcher, and the Payment Nerd’s website.
Listening on a desktop & can’t see the links? Just search for Payment Nerds in your favorite podcast player.

20: Joining the RTP® Network: A Firsthand Look Into the Process w/ John Sullivan

The Clearing House — Mon, 23 Aug 2021 07:00:00 -0400

Recently, the RTP network has started to grow quite rapidly. Currently, there are about 138 financial institutions on the network and over 100 of those have joined in just the past 12 months.
Banks and credit unions that haven’t joined yet tend to see the value in real-time payments. They just haven’t figured out their full real-time payment strategy yet, and naturally, they have a lot of questions.
To answer those questions, we’ve invited John Sullivan, EVP/Director of Digital & Technology Strategy at BankNewport, on to the show to share his firm’s experience of joining the RTP network.
We discuss:
-Why BankNewport decided to joining the RTP network
-What the implementation process was like
-The value of being a member
-Types of transactions sent through the network
-Lessons learned through the process
Want to hear more episodes like this? Find us on Apple Podcasts, Stitcher, and the Payment Nerd’s website.
Listening on a desktop & can’t see the links? Just search for Payment Nerds in your favorite podcast player.

19: How Sports Wagering Is Benefiting from RTP® Network w/ David Roe & Laura Listwan

The Clearing House — Fri, 30 Jul 2021 05:00:00 -0400

Sports wagering is exploding in popularity since the Supreme Court decision in 2018 to allow it in the US.
And that explosion is fueled by the power of real time payments.
To learn more, we invited David Roe, Chief Operating Officer at Mazooma, and Laura Listwan, SVP, Head of Commercial Payments Products at Fifth Third Bank, onto the show. David and Laura have been instrumental in pioneering the sports wagering use case for RTP.
In this episode, we discuss:

Why real time payments are so important in sports wagering
How customer retention and experience is impacted by instant withdrawals
Why educating consumers about the benefits of RTP was the biggest hurdle for Laura and David

18: Streamlining Payment Processes in a Digital Economy w/ Rachel Pike

The Clearing House — Tue, 11 May 2021 15:12:33 -0400

Most people only think about payments when sending or receiving money, but behind the scenes, as many #paymentnerds know, there’s a number of moving parts in the payment process.
Rachel Pike, Chief Growth Officer at Modern Treasury, guides us through the roadmap of the payment lifecycle to discuss:

The evolution of real time payments (RTP)
Delivering a delightful customer experience
RTP system’s biggest challenges
What's next for RTP

OPTIONAL: Check out these resources we mentioned during the podcast:

Rachel Pike, Chief Growth Officer at Modern Treasury

Want to hear more episodes like this? Find us on Apple Podcasts, Stitcher, and the Payment Nerd’s website.
Listening on a desktop & can’t see the links? Just search for Payment Nerds in your favorite podcast player.

17. Evolution of Real-Time Payments Across Financial Services w/ Carlos Rotger & Steven Bernstein

The Clearing House — Tue, 22 Dec 2020 21:19:37 -0500

Across America, the need for at-home banking has risen, along with the need for real-time capabilities.
As more Americans have taken a hold of their finances, more financial services are moving the needle faster than ever before to meet customer expectations of 24/7/365 control and access.
Carlos Rotger & Steven Bernstein were guests on the Payments Nerds podcast, talking specifically about a digital savings product utilizing the RTP® network that has evolved between their two companies.
In this episode, we talk all about:

Why consumers are using this product and vocalizing their needs
How J.P. Morgan Chase & Digit work together to make this happen
The search for electronification and instantaneous payments today
How instantaneous payments have eternally shaped financial services

Find this interview and many more by subscribing to Payments Nerds on Apple Podcasts, on Spotify, or on our website.

16. Get Funded the Way You Do Business: 7 Days a Week

The Clearing House — Wed, 28 Oct 2020 06:00:00 -0400

For small businesses, cash flow is one of the most crucial aspects of business right now. Will you have enough money coming in to operate the business in a way that is sustainable? Do you have access to your funds when you need them? What happens when at close of business on Saturday, you need funds to open on Sunday and don’t have access to them? How do you operate when your funds are tied up in ACH? Adam Carter & Sarah Cichoski were guests on the Payments Nerds podcast, talking specifically about a new real-time merchant funding product using the RTP® network developed between their two companies. In this episode, we talk all about: Why the small businesses are the ones that are needing this solution the most How U.S. Bank & Elavon went about creating this real-time merchant product The overwhelming feedback they’ve received from their customers How using the RTP network provides a competitive advantage in this space Find this interview and many more by subscribing to Payments Nerds on Apple Podcasts, on Spotify, or on our website.

15. Why Payments Platform Modernization Is Changing Finance

The Clearing House — Mon, 10 Aug 2020 07:00:00 -0400

As consumers, most of us expect great digital experiences. And COVID-19 is converting the last holdouts to Amazon. It’s time we ask the same of financial institutions. On the latest episode of Payments Nerds, I sit down with Wade Hobbs, Vice President, Solution Strategy at Viewpointe, and Susan Kent, Enterprise Technology Strategist at Truist. We discuss the race behind the scenes at some of the largest financial institutions to modernize their payments. Payments platform modernization — it’s a mouthful, but it’s why pretty soon, your payments will keep up with your contactless groceries. We went over: What payments platform modernization means The technologies like AI fueling the trend Why COVID-19 has made digital no longer an option, but a necessity

14. Instant Payments and Other Everyday Uses for the RTP® Network

The Clearing House — Mon, 13 Jul 2020 00:36:52 -0400

Our listeners keep asking us one question: What are folks actually doing with RTP® payments in their everyday lives? Today, we want to answer that question. In this episode of Payments Nerds, I speak with Jeff Rayis, Director of Treasury & Financial Management, Michigan State University, and Parker Nolan, FMI Scholar at Michigan State University’s Eli Broad College of Business. We discuss MSU's emergency student loan program and its use as an RTP network case study. Plus, we talk about: Why the emergency student loan program needed a boost How Parker got in the Spartan Blockchain Innovation Competition How funds get delivered in real-time using the student loan app and the challenges the project had to overcome The future of RTP at MSU Why Jeff and Parker are total payments nerds.

13. What's in Demand When It Comes to RTP?

The Clearing House — Thu, 04 Jun 2020 03:23:09 -0400

Often, banks, especially community banks, will say there's no demand for RTP®. No one's asking for this, they say. But some folks on the ground argue that isn't so. What's the scoop on RTP® and fintechs? In this episode of Payments Nerds, I speak with Jesse Honigberg, technology chief of staff, and Matt Brazda, product manager, at Cross River. Their company is helping empower millions of customers and is writing the future of banking through API-driven products. Jesse, Matt, and I discuss the demand in the marketplace from fintechs as it applies to RTP®. Plus, we talk about: Why RTP specifically resonates well with fintechs. How RTP helps facilitate developing partnerships with fintechs. Challenges associated with providing RTP to fintech partners. Opportunities that come with providing RTP to fintech partners. Why Jesse and Matt are total payments nerds. Find this interview and many more by subscribing to Payments Nerds on Apple Podcasts, on Spotify, or on our website.

12. Making Real-time Payments for Payroll with Paychex

The Clearing House — Thu, 14 May 2020 03:12:00 -0400

Something went wrong with your direct deposit. Maybe your employee got underpaid, or the wrong deductions got taken out. Whatever the reason, their check is messed up, and they need it fixed right now. How do you fix it? Traditionally, you had to go through direct deposit, which took days. Now, however, Paychex has created a newer, faster way. In this episode of Payments Nerds, I speak with Eric Wade, product manager for Paychex, a leading provider of payroll benefits and human resources services. We discuss the new real-time payroll product offering from Paychex using the RTP® network and its benefits. Plus, we talk about: How Paychex' new real-time payroll product opens up payment options for clients. Why banks should stand up and take notice of RTP. The latest trends in payroll and why this is the time to move to RTP. What employees and customers need to do to switch to RTP. What new payments products Eric is getting excited about. Find this interview and many more by subscribing to Payments Nerds on Apple Podcasts, on Spotify, or on our website.

11. Reducing Payment Friction for Credit Union Members

The Clearing House — Mon, 04 May 2020 03:11:27 -0400

What do credit union members want from their payments? Is it speed? Convenience? Low costs? Rewards? A warm belly and a pat on the back? In this episode of Payments Nerds, I speak with Lisa Coffey, chief innovation officer at Corporate America Credit Union. We discuss how efficiency and convenience are the two key concepts for credit unions that want to meet customer expectations for payments.

10. How Real-Time Payments Affect Financial Institutions

The Clearing House — Thu, 09 Apr 2020 05:33:24 -0400

Customers expect the same digital experience from the bank that they receive from retailers. But many financial institutions haven't set up the technological infrastructure they need to make that happen. In this episode of Payments Nerds, I speak with Carrie Blankenship, director of product management at Fiserv. We discuss how the back office is changing for financial institutions. Plus, we talk about: Critical components for banks to consider when supporting real-time payments. The cross-generational nature of the digital experience. Will batch processing die? The value of a payment hub. Why Fiserv's approach is scalable for financial institutions looking to enable real-time payments.

9. Paychex is Offering Real-Time Payroll for Employers - See How w/ Eric Wade

The Clearing House — Tue, 17 Dec 2019 01:00:00 -0500

People nowadays have high expectations for fast and convenient services. That does not disclude employers. In this episode of Payments Nerds, I speak with Eric Wade, product manager at Paychex. We discuss how Paychex is able to offer real-time, on-demand payroll and payment corrections. Plus, we talk about: How the gig economy has altered our expectations for payroll. How companies are competing against employers like Walmart and Uber in terms of on-demand payment. Why employees and employers expect instant payroll corrections. Find this interview and many more by subscribing to Payments Nerds on Apple Podcasts, on Spotify, or on our website.

8. How to Future-Proof Your Fraud Prevention w/ Allegra Angus

The Clearing House — Tue, 26 Nov 2019 01:00:00 -0500

Faster payments means faster fraud. With the speed of fraud, organizations need to be able to roll out a new fraud model on demand several times a year. On this episode, I interview Allegra Angus, Product Manager at NICE Actimize, about financial crime prevention. What we talked about: The many ways that fraud is faster today Vulnerabilities of banks and credit unions The strategic importance of fraud and risk management Integrated data sources and model optimization Check out these resources we mentioned during the podcast: NICE Actimize is full of resources Get in touch for more info Find this interview and many more by subscribing to Payments Nerds on Apple Podcasts, on Spotify, or on our website.

7: How Billers & Banks Are Harnessing the Power of RTP Bill Pay w/ Peter Davey

The Clearing House — Tue, 29 Oct 2019 01:00:00 -0400

Everybody wants safer and faster bill payment options. Now, the new Real-Time Payments® system from The Clearing House gives all financial institutions the ability to offer enhanced digital payments innovation to their customers. To talk about the current state of bill pay and the future of RTP® is payment innovator, futurist, and strategist, Peter Davey. He discusses: The relationships between bank, biller, and bill payer. The benefits of Real-Time Payments® The future of bill pay Resources mentioned: RTP® from The Clearing House peter.davey@theclearinghouse.org To hear this episode and many more like it, subscribe to Payments Nerds on Apple Podcasts, Spotify, or anywhere else you listen to podcasts.

6: A Look at Real-Time Payments Around the World w/ Leo Lipis

The Clearing House — Tue, 24 Sep 2019 01:00:00 -0400

There are roughly 40 countries around the world that already have real-time payments systems. These range widely in terms of their design and the degree of economic development of those countries. In this episode guest Leo Lipis, Managing Director at Lipis Advisors, walks us through the ways in which RTP® in the U.S. is both similar and different from its global cousins.

5: Why Achieving Faster Payments Is No Longer Optional w/ Carl Slabicki

The Clearing House — Tue, 27 Aug 2019 01:00:00 -0400

Over the past few years, there’s been a concerted effort to bring faster payments to fruition. Why is this now becoming real as opposed to when the industry’s tried in the past? The answer is simple: survival. In this episode Carl Slabicki, Director, Product Line Manager at BNY Mellon, shares more.

4: Today’s Most Exciting Payments Improvements for Credit Unions w/ Mary Alice Liotta

The Clearing House — Tue, 30 Jul 2019 01:00:00 -0400

“We look at moving to Real-Time Payments® as a strategic imperative.” So says today’s guest: Mary Alice Liotta, SVP, Director, Operations at ESL Federal Credit Union—and for good reason. ESL has seen a number of exciting efficiencies in their payments arrive recently, both on the customer and the internal side. In this episode, Mary Alice talks about how ESL’s whole team embraced RTP® as well as some of the most exciting changes happening in their organization as a result.

3: Why We Need to Stop Waiting on the Feds to Use Real-Time Settlement w/ Steve Ledford

The Clearing House — Tue, 25 Jun 2019 01:00:00 -0400

Instant gratification in payments is not asking too much. It’s simply what people expect. So why does the US lag behind when it comes to real-time payment solutions? On this episode, we interview Steve Ledford, SVP of Products & Strategy at The Clearing House. His team is responsible for the development of the RTP® network — a real-time payments solution. On this episode, Steve gives us his thoughts on the development process and the new network, including: Why meeting customer demands is central to innovation How technology has enabled real-time settlement Whether companies should wait for the feds to use RTP

2: RTP Will Change Banking as We Know It w/ Robert Mancini

The Clearing House — Tue, 28 May 2019 01:00:00 -0400

What’s the surprising trigger that’s prompting financial institutions to initialize faster payments on the RTP network? Robert Mancini, Services Executive & Payments Evangelist at Finastra, has the surprising answer. Demographics. Banks know they need to transform themselves. For a long time they have depended on great customer service to differentiate from their competitors. But the Baby Boomer employees who embodied that customer service model are retiring in droves. A lot of them have been with their banks for 30 or 40 years and are hard to replace. And young adults coming out of college are not interested in those jobs. So these banks have to find a new way to set themselves apart to meet the needs and expectations of their customers and wow them.

1: How Real Time Payments Create Smart Data You Can Use w/ Keith Riddle

The Clearing House — Wed, 01 May 2019 14:26:54 -0400

If you’re a payments nerd, you know that unfortunately, today most payment data is more big data than smart data. What makes smart data? For many financial institutions, real time payments (RTP) are the key to opening the door to vast amounts of smart data that they can use to create a whole new suite of services. Some see offering RTP as a game changer for both financial institutions and their customers. By allowing RTP, financial institutions open up their architecture, according to Keith Riddle, President & CEO of Sherpa Technologies, a CUSO that helps credit unions transform their digital infrastructure and offerings. I recently interviewed Riddle for the Payments Nerds podcast.

Why You Should Listen to Payments Nerds

The Clearing House — Fri, 26 Apr 2019 12:37:52 -0400

Did you hear about the new payments system? Can Bitcoin compete in the retail payments space? Will the latest policy change help or hurt folks using payment systems? You’ll get answers to these questions and more in our new Payments Nerds podcast. We at The Clearing House are experts in payments. The Clearing House has evolved from our early days of just clearing and settle check payments. We’re the only private ACH operator in the country. We have the largest check image network. Our product CHIPS competes with Fedwire. On a daily basis we clear and settle around $2 trillion in payment. The payments space has never been this dynamic. There are new products, new technologies, and new policies that will disrupt the old order in ways that you need understand. There are people with some really interesting perspectives on all of this and you will hear from them. We want this show to be a repository of very stimulating conversations for payments nerds (hint, hint). If you want to be a guest or know someone who should be a guest on the podcast, please reach out to me. tim.Mills@theclearinghouse.org or call (917) 509-8677.