The Clearing House (TCH) is building a clearing and settlement system to support domestic instant payments in the US, allowing consumers and businesses to send and receive payments in real-time and directly from their accounts at financial institutions. It will also include data and non-payment messages that financial institutions can use to build digital commerce solutions.
The service will provide banks with the opportunity to leverage a single platform, Alliance Messaging Hub (AMH) for both SWIFT payments and TCH real-time payments. AMH includes a gateway to the TCH RTP network, as well as other gateways and APIs that allow financial institutions to connect to other non-SWIFT networks. The solution will be commercially available by early 2018.
This solution is the latest development in the company’s global instant payments strategy. Earlier in 2017, SWIFT announced the launch of an instant payments messaging solution for the European market.
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