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Leading financial institutions collaborate on safety/soundness of digital payments. Read more

Core Systems and Digital Payments

The Clearing House operates payment systems at the core of the banking industry and delivers innovative capabilities for the next generation of payments. Learn about our current initiative.

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Advocacy and Thought Leadership

The Clearing House takes its role in the payments business seriously, actively supporting the industry through advocacy efforts and strategic initiatives.

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The Importance of Payments

As a Payments Operator

The Clearing House payment systems clear and settle more than 65 million transactions with a total value of $2 trillion each day. This is nearly half the daily ACH, funds transfers and check image payments in the United States. All systems operate with the highest standards for safety, soundness and reliability. Our two Tier 3+ data centers with synchronized backup deliver an uptime/availability of 99.999%.

The Clearing House is uniquely able to convene senior executives from the industry to conceptualize—and then execute on—strategic new ideas for payments to meet the challenges of a fast changing market. We operate industrial-strength payment systems at the center of the banking industry and works with banks to create new capabilities for the next generation of payments with the same safety and soundness principles that have always underpinned our core systems.

As a Payments Leader

Payments are central to every bank’s business and to the economy but until recently have been “behind the scenes.”  Increasingly, however, payments have moved to center stage with legislators, regulators, interest groups and new market entrants who are making decisions that impact the underlying efficiency, safety and soundness of the payments system. There are new challenges to the economic model, expansion of the role of payment systems achieve policy or law enforcement ends (AML, OFAC, payday lending), and new providers operating without the same level of regulatory oversight, and without adhering to the same standards for safety and soundness.

As traditional stewards of the payments system, banks are responding to these important issues, often through The Clearing House, which has the unique ability to convene the banks, to facilitate the development of positions and to take action.  The Clearing House is engaging with regulators, conducting highly relevant research and providing credible expertise to guide the evolution of legislation, regulation, public policy and public understanding regarding payments. We’re also working with the payments industry to conceptualize and execute new ideas for payments to meet the challenges of a fast changing market.

 

FRAUD WARNING.  Given The Clearing House’s role as a payment system operator, criminals use our name and publicly available information, such as our logo and the names and signatures of our executives, to create fraudulent documents and communications in the hopes of tricking individuals and businesses into sending money or providing account or other confidential information.

Please be advised that The Clearing House does not

  • provide services, including funds transfers, to the general public
  • hold accounts or funds for others, or
  • issue certificates, monetary instruments, or other documents of value.

If you have received documents or communications that claim to entitle you to funds held, processed, or issued by The Clearing House, these documents or communications are fraudulent.  If you have shared any financial account, personal, or other confidential information with others as a result of communications or documentation claiming to be from The Clearing House, you should contact your bank or financial services company immediately and do everything possible to ensure that your accounts and funds are secure and cannot be inappropriately accessed by third parties.  If you have paid any money to the individuals with whom you have been in contact, you should contact your local law enforcement authority immediately.