Open Payment Network today announced that it has acquired ExcheQ, a payment application from North American Banking Company (NABC) that gives financial institutions an easy to use instant payment app to offer their customers.
ExcheQ provides the capability of sending and receiving instant payments using FedNow Service and TCH-RTP network. OPN recently launched the app on the Google Play Store, with availability on the Apple App Store coming soon.
“We’re thrilled to introduce ExcheQ, a groundbreaking instant payment solution for our partners and customers,” said Bradley Wilkes, CEO of Open Payment Network. “With ExcheQ, we’re opening up a new world of fast, flexible payment options that make transactions simpler and faster than ever before.”
Leveraging OPN’s interoperability with FedNow and the TCH-RTP network, financial institutions can gain access to all of the other financial institutions on those payment networks. Using OPN’s open API, financial institutions can easily create custom instant payment applications for their customers and rely on OPN to power those solutions across the two networks.
“The Clearing House certified our platform earlier this year to interoperate with the RTP network,” added Open Payment Network CEO Bradley Wilkes. “With our ability to connect to this expansive real-time payment network, we can now deliver the benefits of instant payments to more financial institutions.”
Real-time payments are facilitated by The Clearing House RTP network and the FedNow service. OPN is interoperable with RTP and FedNow.