Real-Time Payments Info Center

Real-time payments offer many new benefits for consumers and financial institutions alike. Our info center examines those benefits and takes a closer look at the evolution of the payments world and how real-time payments are becoming the future of the industry. Featuring articles, webinars and infographics created by Corporate One, the U.S. Faster Payments Council, and The Clearing House, this info center will help your credit union discover more about the benefits of real-time payments and learn how to get connected to real-time payments opportunities.

Featured Content
 
3 Ways Real-Tme Payments Benefit Your Credit Union
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What You Need to Know Now about Real-time Payments
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Getting on Track on the Real-Time Payments Rail
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FAQs
Resources
 
Immediate payments: Readiness guides and checklists

The importance of getting your credit union connected to an immediate payment rail continues to grow. The RTP® network’s real-time payment capabilities are already accessible to financial institutions that hold 75% of U.S. demand deposit accounts, and that number will likely increase when the FedNowSM service becomes operational later this year.

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Outlining the benefits and use cases of immediate payments: An overview

Increased access to immediate payments and growing demand continue to drive forward the migration of payments from just “faster” to immediate. With the imminent launch of the industry’s second new immediate payment rail on the horizon later this year, the Federal Reserve’s new FedNowSM Service, now is the time to consider integrating instant payments into your credit union’s suite of products and services if you haven’t already done so.

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Considering immediate payments? 4 steps to take now

Advances in technology have changed your members’ expectations for speed and convenience. Today, everyone, including businesses, wants to send and receive money in an instant, and they’re turning to alternative payment services that can do just that. In fact, nearly two-thirds of businesses indicate that access to faster payments will factor into any decision to switch banks in the future, and nine in 10 businesses expect to be able to initiate and receive faster payments by 2023.

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Risk and Fraud Management: Real-Time Payments Governance

The immediacy at which a payment routes and settles on the RTP® network offers credit unions new opportunities to reimagine their business and serve members in enhanced and different ways. However, these speedy new opportunities raise questions from financial institutions about the potential risk and fraud involved with immediate payment settlement.

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Credit Unions Dip Toes in RTPs, Crypto

Credit Union Times spoke with Corporate One Federal Credit Union President/CEO Melissa Ashley and Sherpa Technologies President/CEO Keith Riddle about the RTP imperative, why credit unions need to begin their strategy now, and what it will mean to be left out.

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Three Ways Real-Time Payments Benefits Your Credit Union

You’ve heard about real-time payments but how do they actually benefit your credit union? Here are three ways immediate payments can impact your business and help reimagine the service you offer members and business partners.

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RTP Use Cases Infographic

As the market migrates to real time, business cases for faster payments include immediate consumer-to-consumer money movement (P2P and A2A), consumer bill payment, business disbursements, enhanced payroll support for select employee groups (SEGs), and accelerated loan disbursement and payment use cases.

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Considering a third-party service provider (TPSP) in your real-time payments journey

If you’ve determined real-time payments are right for your credit union and you’d like to get started, one of the questions you’ll need to answer is: What technology and operational capabilities would be required for our institution to offer real-time payments?

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inVest48 Breakout Session: The Right Time for Real Time – Understanding Real-Time Payments & the Use Cases

Three of Corporate One’s real-time payments experts discuss the benefits of real-time payments, cash-management implications, and the round-the-clock responsibilities that come with them.

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The FedNowSM Service brings significant benefits to financial institutions

The FedNowSM Service, an instant payment platform currently under development by the Federal Reserve, will bring significant benefits to financial institutions and their customers – consumers, businesses and other organizations. Because this is an all-new payment infrastructure, your readers may find it helpful to understand how it will work. This video explains the FedNow Service payment flow, including examples of how it will work in common payment transactions.

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EPCOR Payments Innovation Award Winner: Corporate One and Sherpa Technologies

Corporate One and our CUSO Sherpa are pleased to be recognized by EPCOR with the Payments Innovation Award for our leadership in real-time payments.

EPCORRead more
 
ePay Presents Innovation in Payments Award to Corporate One and Sherpa

Corporate One and Sherpa Technologies are proud recipients of this year’s ePayResources Innovation in Payments Award, honoring achievement in developing or implementing innovative payments solutions, or tools and resources that facilitate industry adoption of emerging payments solutions.

CU TimesRead more
 
20022: An Introduction

What is ISO 20022? Why are there so many payment articles about ISO 20022? Does my credit union need to become an expert in ISO 20022 to be ready for faster payments?

Corporate OneRead more
 
RTP® Network Readiness Checklist for Banks and Credit Unions

When considering whether to become an RTP Participant, it is important to understand RTP system functionality and the obligations of the RTP Rules, including the RTP technical specifications. Such understanding will be imperative as prospective Participants review their business practices and procedures, and consider appropriate changes and controls needed to comply with the RTP Rules and technical requirements.

The Clearing HouseRead more