B2B Payments

PNC Goes Live On The Clearing House’s Real-Time Payments Network

PNC announced it is now live on The Clearing House’s real-time payments network RTP, according to a press release published on Tuesday (Dec. 5).

The financial institution (FI) has linked into RTP in the U.S. via Finastra’s Fusion Payments, a payment services platform. PNC customers can now gain access to real-time transactions, the release said.

“RFP enables PNC to bring a new, leading-edge solution to market as the economy becomes increasingly digital,” said PNC EVP and Head of Product Management Treasury Management Christopher Ward in a statement. “The ability to make an immediate payment at any time, on any day of the week, with a real-time confirmation of the payment significantly transforms the way businesses and consumers make payments in the United States.”

“Emerging technologies such as RTP are creating opportunities for banks and clients to reimagine our business models,” he continued. “At PNC, we are investing in the latest technologies and infrastructure to bring modern digital experiences and fresh product solutions that are aligned with our clients’ business priorities.”

PNC said it has been using Fusion Payments to process wire payments. The bank’s decision to use the platform for real-time payments is a response to market demand, it added.

In another statement, The Clearing House SVP of Product and Strategy Steve Ledford said services like Fusion Payments are key to pushing adoption of real-time payment technologies.

“Solution providers such as Finastra are playing an important role in enabling early adopters like PNC to provide new products and services, including real-time payments connectivity to their customers,” Ledford stated.

In another move to enhance services for its corporate clients, PNC Bank announced news earlier this year that it would be connecting its business customers to a mobile solution that integrates Visa commercial cards into mobile wallet solutions, including Apple Pay, Samsung Pay and Android Pay.

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