Utilities and Faster Payments New Options to Transform the ...

Utilities and Faster Payments ? New Options to Transform the Industry

Utility Payment Conference

Ryan McHugh

Vice President, Immediate Payments Product Management BNY Mellon Treasury Services

September 16, 2019

Agenda

Real-Time Payments ? History and Launch ? Attributes ? Industry Update ? Request for Payment

Tokenized Payments Q&A

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Information Classification: Public

RTP?: History and Launch

3

Information Classification: Public

The First New U.S. Payment System Since ACH

Since the ACH network began in the early 1970s, there have been many advances in technology while core payment systems have been slow to catch up. Until now!

Advances in Technology

1698 Steam Engine

1914 Panama

Canal

1911 Electric

Auto Starter

1950 Polaroid Camera

1969 Moon Landing

1983 Internet

1997 Wi-Fi

2004 Google's IPO,

Facebook Launches

2006 Nintendo

Wii?

2008 Tesla Roadster

1981 Space Shuttle

1990 Hubble Telescope

1999 GPS Enabled Consumer Products

2005 YouTube

2007 Apple iPhone?

2015 Apple Watch?

1600

2017

1792 U.S. Dollar

1916 Fed Electronic Transfer

1950 Credit Cards

1974 ACH

1911 Checks/ABA

1930 Lockbox

1966 Debit Card

2004 Check 21 Electronic

Check Conversion

2017 RTP?

& Zelle?

Advances in Payments

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Information Classification: Public

The Clearing House (TCH) Launches RTP Network

First New Core Payments System in the U.S. in More Than 40 Years

? Launched on November 13, 2017. ? Represents the first new payment rail for the U.S. since the ACH network was introduced in 1974. ? Designed and built through the collaborative effort of TCH's 25 owner banks and meets the objectives of

the Federal Reserve Faster Payments Task Force. ? Open to all U.S. depository institutions, with a goal of reaching ubiquity by 2020. ? Allows businesses to send and receive funds in real time directly from their bank accounts without

creating accounts on other services, 24/7/365.

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Information Classification: Public

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