The bank is offering real-time payments through its person-to-person (P2P) service on Early Warning’s clearXchange network, a large bank-led digital payments network in the United States.
Capital One joins Bank of America and U.S. Bank as the latest financial institutions to launch real-time payments on Early Warning’s clearXchange network. Capital One 360 Checking customers currently can receive real-time payments from other participating banks in the network, and they will be able to send real-time P2P transfers later this summer. Capital One will enable broader access for all customers through its mobile app and website in the coming months.
P2P payments on the clearXchange network are now available to more than 100 million online banking and 70 million mobile banking users in the US. In the first quarter of 2016, customers at banks in the clearXchange network completed more than 46 million P2P transfers, accounting for over USD 16 billion in combined transaction volume.
In recent news, JPMorgan, Bank of America and Wells Fargo have started delivering payments through clearXchange.
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