MasterCard and The Clearing House extend multi-year partnership

Mastercard and The Clearing House have announced an extended multi-year partnership, bringing the companies together to collaborate on innovative capabilities for consumers, businesses and governments to evolve and embrace the digital economy through real-time payments adoption on the RTP network. The partnership continues Mastercard’s role as the exclusive instant payments software provider for TCH’s RTP network, enabling both companies to integrate new instant payment use cases across a range of payment flows. Instant payments became a reality in the U.S. in 2017 when The Clearing House launched the RTP network, the first new payment rail in 40 years designed and powered by Mastercard. For consumers, RTP provides instant access and confidence that a payment is received, 24/7. For businesses, RTP enhances value by simplifying payments for customers, enabling faster wage disbursements, improving liquidity management, and optimizing capital workflows, and for governments, it helps activate local economies through disbursement and settlement.