D+H Corp. and The Clearing House are partnering to provide real-time payments to U.S. financial institutions.
Banks can now use D+H's payments, core and channel applications to access The Clearing House real-time payment systems for origination, processing and settlement of transactions.
Toronto-based D+H provides financial technology to nearly 8,000 banks in the payments, lending, integrated core and global transaction channels.
D+H payments technology supports the processing of millions of faster payment transactions throughout Europe and Asia daily, and the partnership now adds the U.S. to its framework.
“The Clearing House’s real-time payment system is a tremendous innovation, bringing to the U.S. a scheme that enables participants to process payments end-to-end, in real-time,” Chris Zingo, global head of sales for D+H, said in a March 17 press release.
“D+H is already a part of the real-time payments transformation in other parts of the world and recognizes real-time payments as an enabler of new modes of commerce with great benefits to the banking industry and society at large," Zingo added.
The Clearing House has been working for the past two years to develop a real-time payments system, while also helping the U.S. Federal Reserve in its faster payments initiative.
The Clearing House is an operator of the Automated Clearing House in the U.S.