Payment company PayFi and The Clearing House (TCH) have partnered to bring real-time payments technologies to the community banks on PayFi’s Branch99TM Real-Time Platform, according to a release.
“We are in the middle of disruption in the banking and payments industries,” PayFi Head of Growth Peter Gordon said. “The recent announcement of Avidia Bank being the first community bank to commit to joining the RTP network through PayFi’s Branch99TM Real-Time Platform furthers our commitment to and regional banks. The ISO 20022 messaging functionality on the RTP network provides banks of all sizes with rich messaging capabilities to enable conversational commerce, allowing banks to continue to build strong relationships with their customers.”
PayFi said its RTP network is the first new core payments infrastructure in over 40 years.