To mark the fifth anniversary of real-time payments in the U.S. The Clearing House (TCH) and Jack Henry launched a flurry of statistics which cast a bit of an obscuring haze over the topic.
TCH says its RTP network reaches 62% of all demand deposit accounts in the U.S. and 85% of insured depository institutions have technical access to the network through more than 20 technology solutions providers, including Jack Henry & Associates, FIS, Fiserv, COCC, Finastra and Shazam. The Clearing House is eager to show that it provides services for small banks and credit unions and isn’t just a network for the major banks.
Jack Henry, which mostly serves community banks and credit unions, starts from the other end of the statistics and says that a majority of the RTP users — 60 to 65% —are Jack Henry users. It counts 180 financial institutions as connecting to RTP through its payments hub. When it counts financial institutions who used Jack Henry for Zelle, the total of real-time payment users on its technology jumps to 400.