The Clearing House urges firms to buy into its real-time system

The Clearing House, the New York based, bank-owned operator of one of only two U.S. payments systems, has been building out the real-time payments system since 2017. The only other operator of a U.S. payments system, the Federal Reserve Board, is also seeking to build a competing real-time payments system called the FedNow Service, but that's not expected to launch until 2023.

The Clearing House has invested $320 million in creating a U.S. real-time payments network, and now it wants businesses to step up and invest in their own technology to use the system.

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