MONETT, Mo.–JHA Payment Solutions, a unit of Jack Henry & Associates, said it has entered into a partnership with The Clearing House (TCH) to expand the scope of U.S. financial institutions equipped to send and receive new real-time transactions.
The Clearing House is currently working to build a new real-time payment system, which TCH will own and operate. “In partnering with JHA Payment Solutions, TCH will greatly expand the new system’s reach and advance the goal of real-time payment ubiquity – a desired outcome the Federal Reserve has identified for an enhanced U.S. payments system,” the company said.
According to JHA Payments Solutions, a key attribute of its faster payments strategy is to ensure that financial institutions have access to new payment platforms that will allow them to offer innovative products to their customers. Collaborating with TCH expands JHA Payment Solutions’ modernization initiatives across its network of more than 6,300 diverse banks and credit unions.
JHA Payment Solutions said it facilitates the adoption of exciting technologies at diverse banks and credit unions. Extending the benefits of TCH’s real-time system revolutionizes payments by enabling its financial institution clients to send and receive transactions in real time, in a payments environment that is secure and flexible to incorporate future payment innovations.