D+H Corp. has opened its technology to U.S. banks for testing on The Clearing House’s real-time clearing and settlement network in the next phase of development of faster payments.
Banks now may work with D+H to test their ability to connect to THC’s network, set to launch later this year, the Toronto-based payments technology firm said in a Monday press release.
Eventually D+H’s global payments hub will enable consumers and businesses to send, request and receive payments from their accounts at participating institutions as part of a broad industry push to streamline real-time payments.
“As The Clearing House works hard to make real-time payments (RTP) a reality in the United States, we are pleased that D+H is providing financial institutions a solution to connect to our network,” said Steve Ledford, TCH’s senior vice president of product and strategy. “Ubiquity is a top priority for our RTP system and D+H’s real-time payment processing solution will help us achieve that goal by greatly expanding the reach of our RTP system in the U.S.”
Separately, D+H on Monday announced that Largo, Fla.-based USAmeriBank has adopted the latest version of D+H’s multi-tenant hosted payments hub for U.S. domestic and international wire transfers.
USAmeriBank, which has relied on D+H’s payment solution to automate wire transfers since May 2015, will now serve as a strategic partner with the technology company to test and implement its next-generation solution, set to launch widely later this year, D+H said in a separate press release on Monday.
The upgrades D+H is developing for its solution will simplify use for financial institutions, according to D+H. “We are able to provide industry-leading service availability, while removing the technology burden from our clients,” said Chris Zingo, D+H’s group head of sales and account management.