20 Nov 2025 Kyle Caldwell and Keith Melton from The Clearing House on the RTP Network and new Fraud Services from TCH
episode
Off the Rails from the U.S. Faster Payments Council - FPC
36 min
3 speakers
3 chapters
transcribed 1 month ago
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What is the main topic discussed in this episode?
Off the rails from the U.S. Faster Payments Council.
I am Reid Lutanen, CEO of the U.S. Faster Payments Council, and this is Off the Rails from the U.S. Faster Payments Council. Today's episode, I'll be joined by Keith Melton and Kyle Caldwell from The Clearinghouse. Keith, Kyle, and I will be talking about the growth of the RTP network, use cases, the new fraud service that TCH is rolling out, and a ton of other stuff. But first, the headlines. Believe it or not, the FPC's 2026 Spring Member Meeting is only about three months away, and we're doing something new to make it an even more valuable experience for our members. This spring, we're partnering with ePay Resources to create joint programming and provide an incredible opportunity for our two membership groups to interact.
ePay Connect kicks off on Monday, February 23rd, and FPC members will receive a special discount on attendance. Then, beginning at 11 a.m. on Wednesday, February 25th, FPC and ePay attendees are all invited to a joint session with a very special surprise keynote speaker, and then workshop sessions tailored specifically to financial institutions exploring Faster Payments implementations. Registration is open now, so head to fasterpaymentscouncil.org and click on News and Events, then FPC Events to find that event. And with that... It is time for my conversation with Keith and Kyle. All right. We're joined by Keith Melton and Kyle Caldwell from The Clearinghouse. Thanks for joining us, guys.
Thanks for having us. Yeah, thanks for having us.
All right. Why don't we start with the big picture, Keith? I think give us some background on the clearinghouse and all the things that the clearinghouse does in the market. And then also let's dive in to RTP specifically, get some stats on the network, financial institutions that are participating, the DDAs you guys can reach, transaction counts, dollar amounts, things like that. And then some of those use cases that are driving that volume.
Yeah, happy to, Reed. Yeah, so thanks for that. So the clearinghouse has been around since 1853. We've supported the U.S. interbank settlement for a really long time. We process trillions of dollars in value flowing over all of our networks on a daily basis. We operate four primary networks. So the first network, we'll talk a lot about this today, is the real-time payments network. So it's a real-time 24 by 7 by 365 instant payments network in the U.S. It was brought about eight years ago, the first instant payments network in the U.S. We also operate our high-value wire system. So we call it the CHIPS service. We do about $2 trillion today on that network, and we also provide about $5 billion in annual economic value based on a liquidity savings algorithm that's patented within the CHIPS platform for high-value payments.
The low-value retail payment, the ACH network that we operate is called EPN, the Electronic Payments Network. We do roughly 50% of the commercial ACH volume in the U.S., And then lastly, we provide what we call our image exchange network, our SVP code. We do about 29 percent market share of check clearing in the U.S. So, like I said, we've been around for a long time. We work with a lot of financial institutions. We set these networks up to support all financial institutions in the U.S. And, you know, we we've got a long history here. From an RTP perspective, you know, we've launched the platform about eight years ago. So we've been in market for a long time. We've got a lot of experience now with operating that network 24 by 7 by 365.
It's based on an ISO 20022 model. So it's a very data rich native platform. And we're getting to some significant volumes. So last year in 2024, we did about 343 million transactions on the network. That was about a 38% year-over-year growth from the previous year. And we surpassed that number in early October this year. So we're on track to have another record year. Actually, we had a record month last month. It was 42 million transactions on the network in October. So, you know, we're seeing a lot of growth in the network.
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Chapters
3 chaptersSpeakers
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