Some of the major US banks are planning to tap into the instant payments market via their digital network, according to Reuters.
Banks including JP Morgan Chase, Bank of America, Wells Fargo and US Bancorp will use their jointly-owned network, clearXchange, to let their customers transfer money.
“What we are doing now is delivering payments in real time, which is what our customers have asked for,” says Mary Harman, managing director for payments at Bank of America, in an interview with Reuters.
