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.

The Clearing House is working with the nation’s leading financial institutions to develop an industry-wide credentialing solution designed to help improve the future safety and soundness of digital payments.

As a first step, TCH, an industry-leading bank utility comprised of 22 member banks, is developing a pilot program to demonstrate a new open standard solution aiming to enhance customer account safeguards. The credentialing solution will help protect customer account information by reducing the storage of sensitive information—such as a customer’s card number—across multiple retailers, virtual wallet providers, and other parties. The initiative is designed to ensure that solutions in mobile and other digital payment channels can be applied in a consistently safe and sound manner across the payments spectrum.

TCH is ideally positioned to work with the nation's largest and most influential financial institutions to create a better, safer solution for customers—and one that meets the broadest set of end user needs. The pilot will begin in late 2013.

Full press release