Banking association The Clearing House (TCH) has contracted UK payments infrastructure operator VocaLink to develop a national real-time payment service in the US. “VocaLink has commenced work to ensure the system is built rapidly,” the companies say. “Individual financial institutions and their service providers have already commenced efforts to integrate and adopt the new real-time payment system.” TCH and its member banks revealed plans to build a real-time payment system in October 2014.

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