Wells Fargo has revealed that its corporate customers can now send real-time payments through The Clearing House's RTP network.
This move is announced almost a year after the company launched similar capabilities for wholesale and retail customers to send payments at the end of 2018. As such, users are allowed to send real-time payments from their enterprise software or treasury workstation via the Wells Fargo application programming interface (API). Wells Fargo mentioned that the initiative came as a result of its customers’ wish to have the ability to make immediate payments and receive timely confirmations to run their businesses more efficiently.
One day before Wells Fargo’s announcement, HSBC Bank USA unveiled the launch of its own real-time payment capabilities through The Clearing House. However, the rollout is scheduled to be completed by early 2020.
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