Payments for the 21st century and beyond
summary
A new US real-time rail provides immediate, final settlement between banks with built-in messaging for invoices and requests; RTP launched November 2017 and already has over 150 financial institutions connected, adding ~50 per quarter so about 61% of US deposits can receive RTP today and target ~75–80% this year. Messages use iso 2022 formats, support request-for-payment flows, carry rich remittance, and a document service (90-day TTL) lets senders append PDFs or XML for AI-driven straight‑through processing.
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chapters (26)
- 0:00Introduction
- 0:50What is the clearinghouse
- 2:27Why the ecosystem is broken
- 3:37History of payments
- 6:48Immediateness
- 8:17Artificial Intelligence
- 9:02Natural Language Processing
- 9:36Payments rails
- 11:22Changing needs of customers
- 14:53Realtime payments
- 18:35Other payment systems
- 19:01RTP adoption
- 20:12How does RTP differentiate from other platforms
- 21:02How does RTP innovate
- 24:02Use cases
- 24:41RTP brand promise
- 26:51Request for payment
- 27:42Rich data features
- 28:09B2B life cycle
- 29:34Document services
- 31:30How it works
- 32:28What do these things have in common
- 32:46New business models
- 33:28Seamless integration
- 34:18Consolidation in the industry
- 38:33Fraud
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