Mastercard and The Clearing House (TCH) have announced that they are extending their partnership for several more years. This partnership will allow the companies to work together on creating new and innovative ways for consumers, businesses, and governments to embrace the digital economy through real-time payments (RTP) adoption on the RTP network.

Since its launch in 2017, the RTP network has revolutionized the way payments are made in the U.S. It is the first new payment rail in 40 years and is powered by Mastercard. With RTP, consumers can enjoy the convenience of instant access to their payments, 24/7. Businesses also benefit from RTP as it simplifies payments for customers, enables faster wage disbursements, improves liquidity management, and optimizes capital workflows. Additionally, governments can use RTP to activate local economies through disbursement and settlement.

This extended partnership between Mastercard and TCH solidifies Mastercard’s role as the exclusive instant payments software provider for the RTP network. Together, they will continue to integrate new instant payment use cases across various payment flows. This collaboration will undoubtedly contribute to the growth and advancement of the digital economy.