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Stock impact report

Banks Will Extend Real-Time Payments To Send In 2025 [Forbes]

Mercantile Bank Corporation (MBWM) 
Last mercantile bank corporation earnings: 4/21 06:01 am Check Earnings Report
US:NASDAQ Investor Relations: mercbank.com/about
Company Research Source: Forbes
That's the prediction by John Byl, SVP and product development manager at Mercantile Bank of Michigan, one of the largest Michigan-based banks with assets of approximately $6.0 billion. “I would say 2025 is going to be a year where you're going to see some people actually jumping into the pond,” Byl said. Mercantile Bank, which can receive both TCH and FedNow payments, will start originating payments on both networks early this year, he said. John Byl, SVP, product development manager Mercantile Bank of Michigan Photo courtesy Mercantile Bank of Michigan The first real-time payments system was launched by The Clearing House (TCH) about seven years ago. It recently announced that it had processed a total of more than one billion payments by Jan 31, 2024. It also set a new single-day record for payments volume (1,592,419 transactions) and value ($1.44 billion). TCH says it covers more than 70% of the demand deposits in the U.S. Because of the country's history of local region Show less Read more
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