TCH integration with FTM for Immediate Payments

Real Time Payments can be integrated with Immediate Payments to support The Clearing House (TCH).

The integration supports the following functions.
  • Adding and managing The Clearing House (TCH) participants in Digital Payments.
  • Authorized operators can sign the bank on to, or off from, the The Clearing House RTP network. An optional Approvals review process, where one or more people must approve an action before it is run, can be implemented for these actions.
  • Real Time Payments can also be configured to display The Clearing House (TCH) transactions on several Payment Feature Services user interface pages. The customer service representatives (CSRs) of a bank do not need to switch to the FTM operations and administration console (OAC) to see all of the messages that are associated with an immediate payment request.
  • A TCH participant can send a payment to another TCH participant that belongs to the same financial institution as they do. This payment is called an on-us payment. Instead of using the external TCH RTP network to settle the on-us payment, it is settled within the financial institution. The original transaction is kept and a receipt transaction, which has an ONUS_RECEIPT relationship with the original transaction, is generated. The TCHS product code is assigned to the new receipt transaction, which indicates that it is a receipt transaction for an on-us payment.

The following topics provide more information about TCH integration with FTM for Immediate Payments.