D+H Begins Beta Testing for its Real-time Payments Hub Solution

DH Corporation (D+H), a Canada-based provider of technology solutions to financial institutions, today announced the availability of testing its real-time Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term system which the company expects to eventually connect with other systems to link all US bank accounts through its Clearing House Clearing House A clearing house is defined as an intermediary between two parties, a buyer and seller, which helps facilitate the overall process from trade inception to settlement. Clearing houses streamline the exchange of payments, securities, or derivatives transactions.The clearing house is situated between two clearing firms who also helps reduce the risk of either member firm failing to honor their respective trade settlement obligations.Buyers and sellers enter into legally binding agreements for the e A clearing house is defined as an intermediary between two parties, a buyer and seller, which helps facilitate the overall process from trade inception to settlement. Clearing houses streamline the exchange of payments, securities, or derivatives transactions.The clearing house is situated between two clearing firms who also helps reduce the risk of either member firm failing to honor their respective trade settlement obligations.Buyers and sellers enter into legally binding agreements for the e Read this Term (TCH), which counts the country's largest banks among its members.

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Once complete, D+H's global payments hub technology will empower US consumers and businesses to send and receive real-time payments from their existing accounts at financial institutions. Banks are now able to work with D+H to test their ability to connect to the network and bring new real-time payment services to the US market, once TCH's real-time network launches later this year.

In addition to basic payment messages, the system features requests for payment capabilities, certain payment confirmation messages and the ability to carry remittance information.

TCH has partnered with VocaLink, the UK-based international payment systems provider which developed the UK’s Faster Payments platform, which went live in 2008, and the more recent FAST network in Singapore.

Commenting on this, Steve Ledford, SVP of Product and Strategy at The Clearing House, said: "As The Clearing House works hard to make real-time payments a reality in the United States, we are pleased that D+H is providing financial institutions a solution to connect to our network. Ubiquity is a top priority for our RTP system and D+H's real-time payment processing solution will help us achieve that goal by greatly expanding the reach of our RTP system in the U.S."

Moti Porath, Head of Product Management and Global Payments Solutions at D+H, added: "D+H shares TCH's commitment to the speed, availability, convenience, and information rich messaging that define real-time payments. We are excited by the opportunity to apply our vast experience with immediate payments schemes around the world to provide banks with access to real-time payments in the United States."