ClearXchange is a network owned by several major banks in US, launched in 2011. At the time of launching, the customers had to wait two to three days in order for payment to be processed completely. The network’s immediate processing capability got live in 2016.
JPMorgan Chase offers Chase QuickPay, which is a peer-to-peer transfer platform introduced in 2015. However, due to constant requests from customers, JPMorgan also joined the league of ClearXchange.
Peers, such as the US Bank, Capital One, PNC Financial Services and BB&T are also looking towards integration with ClearXchange, as it provides immediate transfers, according to thecountrycaller.com.
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