NEW YORK--(BUSINESS WIRE)--HSBC Bank USA, N.A. (HSBC) announced today the launch of real-time payments capabilities on the RTP® network that allow business and institutional clients of all sizes to pay and be paid immediately with enhanced convenience and security. With this latest enhancement in HSBC’s implementation of the RTP network, these clients began sending real-time payments this morning, having been able to receive real-time payments since July 2019.
“As digital banking and e-commerce are embraced around the world, people expect to move money just as fast as they are able to check their account balance or buy a new app for their mobile phone.
The RTP network is developed by The Clearing House (TCH) and its owner banks, including HSBC. HSBC is using the RTP network to provide business and institutional clients with payment functionality that supports activities such as just-in-time cash management, instant delivery of payroll, and immediate customer refunds. The RTP network is also available to HSBC’s individual customers when receiving payments from businesses and other individuals.