What is a role of The Clearing House in the RTP network?

The Clearing House plays a critical role in the RTP (Real-Time Payments) network by managing the network itself and the associated scheme rulebook. This includes overseeing the operations, infrastructure, and overall governance of the RTP system, ensuring that it functions smoothly and efficiently. The scheme rulebook outlines the guidelines and operational rules that participants must follow to create a standardized environment for transactions within the RTP network. This management ensures that all participants can engage with the system effectively while adhering to the established standards for real-time payments.

In contrast, while cross-border transaction authorization, compliance with global payment regulations, and customer service handling are essential aspects of a comprehensive payment system, these responsibilities do not fall under the specific purview of The Clearing House concerning the RTP network.