Published on Thursday, April 7, 2022

Innovating Payments Top 3 News Headlines

Week of April 4

Welcome to Innovating Payments Top 3 News Headlines for the week of April 3, 2022. Making headlines this issue, The Clearing House (TCH) announced that it will increase the general transaction value limit to $1 million on the RTP®network on April 18, 2022. Also happening this week, TD Bank announced that TD Auto Finance had launched real-time payments for its network of dealers, becoming the first indirect auto lender to roll out the ability to send real-time payments nationwide. And according to Payments Journal, the number of FinTechs playing in the cross-border space is on the rise, promising to solve historical pain points like long settlement periods, high transaction costs, and limited accessibility. Finally, neobank innovations are raising consumer expectations for traditional banking services when it comes to digital services.

Read on to learn more.

1.  TCH to Raise RTP® Network Transaction Limit to $1 Million (The Clearing House)
On April 18, The Clearing House (TCH) will increase the general transaction value limit to $1 million on the RTP®network. TCH, the operator of the RTP network, is increasing the value limit for payments on the network as the transaction volume and number of users on the RTP network continues to grow. Increasingly, corporate users are looking for ways to transfer higher value payments for various use cases, including real estate closings, commercial loan funding, merchant settlement, supplier payments, and more. The increase to $1 million, from the current transaction limit of $100,000, follows a similar increase to the Same-Day ACH transaction limit, which took place on March 18. The RTP network limit increase provides financial institutions and their customers with another similar choice for moving up to $1 million via a faster payment. Read more.

2.  TD Intros Real-Time Payments for Car Dealers as Contracts are Signed (

Real-time payments for car dealers are being introduced by TD Bank's auto finance division, which provides funds throughout the day as contracts are signed. TD Auto Finance is the first indirect lender and the first major auto lender to offer the means for real-time payments nationwide to its network of car dealers, according to a press release on Thursday (March 31). The capability enables TD Auto Finance to make payments to dealers throughout the day as contracts are booked and avoid the overnight process of sending batch payments using ACH. Read more.

3.  Neobank Innovations Raise Consumer Expectations for Traditional Banking Services (

Even for the significant number of consumers who still prefer opening accounts with traditional financial institutions (FIs), most new accounts opened by consumers are via digital channels. At the same time, those consumers frequently link new accounts - whether they be digital wallets, peer-to-peer (P2P) or banking - with an already existing account to fund it at the opening. On the other hand, moving money between two accounts a consumer owns may be fraught with obstacles. Read more.

Use cases for real-time payments continue to rise. Which real-time payments use cases are a good fit for your financial institution and its customers?  How are evolving customer expectations around digitization impacting your payments strategy?

Check back soon for our next issue, which will again highlight the industry's most pressing and need-to-know developments. Until then, visit us online at Innovating Payments.


Joe Casali, AAP, NCP


AUTHOR: Joe Casali, AAP, NCP
Executive Vice President

As the EVP of Payments Innovation for NEACH, Joe focuses on exploring innovative solutions and technologies that will help position members for success, both now and in the future. Connect with Joe to read more of his blogs, articles, and posts.


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