Early Warning’s Zelle integrates with The Clearing House’s RTP Network

By Pavithra R

Early Warning, the owner and operator of the Zelle Network and The Clearing House (TCH), the operator of the RTP network, announced that financial institutions (FIs) can now settle Zelle payments over the RTP network, the real-time payment system in the United States.

The integration is a critical milestone in enabling FIs of all sizes to begin using both networks. PNC Bank and U.S. Bank have successfully completed a pilot of the integration, transmitting money using Zelle over the RTP network. More FIs will integrate the two networks and start testing later this year. 

“Participating Zelle Network FIs can choose the RTP network as an optional route to clear and settle Zelle transactions in real-time. It’s on this foundation that new real-time payment use cases will be possible, including bill payments for auto loans, mortgages, and utilities,” said Lou Anne Alexander, chief product officer at Early Warning Services.

Corporate customers of FIs leveraging the two networks will be able to send payments and Request for Payment (RFP) messages to consumers and SMBs using the email address or U.S. mobile phone number associated with their Zelle enrollment in addition to their Routing Transit and Account number. Both the sending and receiving FIs must be RTP enabled.

“Zelle and the RTP network make it faster and easier for FIs of all sizes and their customers to accelerate everyday tasks, from paying bills to issuing invoices to settling insurance claims, all while helping to reduce costs due to reconciliation issues, credit balances, and capital reserves,” said Steve Ledford, senior vice president of product strategy and development, The Clearing House.

Recently, BMO partnered with The Clearing House to launch Global Pay for U.S. customers.

Established since 1853, The Clearing House is a banking association and payments company owned by the largest commercial banks. According to company data, RTP network currently reaches 56% of U.S. demand deposit accounts, and about 30 financial institutions are live on the network. It offers a flat pricing structure for all depository institutions and does not include volume discounts or have minimum volume requirements.