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NACHA Postpones Same-Day ACH Window Due To Fed Board

PYMNTS

NACHA, national administrator of the ACH network, said a third processing window for same-day transactions will be postponed for six months until the Federal Reserve Board of Governors (Fed Board) approves the initiative. 13, 2018, and given an effective date of Sept. ET (1:45 p.m.

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ACH Network Adds More Than 1B New Payments In 2018

PYMNTS

NACHA, the steward of the ACH Network, announced Tuesday (Feb. 19) that last year was a milestone year for the ACH Network with payment volume climbing to close to 1.5 In a press release , NACHA said it is the fourth year in a row that the ACH Network added more than 1 billion new payments. billion payments. million debits.

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SMBs Gear Up For Phase Two Of Same-Day ACH Rollout

PYMNTS

September will be a big month for NACHA’s Same-Day ACH initiative. 15, NACHA will roll out phase two of its Same-Day ACH Rule, and small businesses stand to gain significantly from the effort, according to reports at Nav.com. It incorporates more payment scenarios into the Same-Day ACH initiative.

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Coming Soon: Same Day ACH Phase 2 – Debits

PYMNTS

payment system has embarked on the financial equivalent of a film trilogy with its Same Day ACH initiative, an initiative which will bring big changes to the ACH Network. Those same organizations are now working to make sure the next stage unfolds smoothly as well. Y2K all over again.

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For NACHA’s Same Day ACH, The Debit Debut

PYMNTS

In an interview with PYMNTS’ Karen Webster, Jane Larimer , chief operating officer at NACHA , said that the implementation of Phase 1 of Same Day ACH has gone smoothly, with a live debut last September. We’re seeing robust use of same-day ACH credits,” said Larimer.

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New Report: Who’s Using Same-Day ACH And Why?

PYMNTS

Fourteen months since the Phase 1 roll out, 43 percent of financial institutions (FIs) now allow businesses to originate same-day ACH credit. Zero FIs have reported an increase in fraud due to SDA products. For FIs, debit use cases are two times more likely to be important than credit use cases.

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Taking The Y2K Fear Factor Out Of Same Day ACH

PYMNTS

Phase One of the Same Day ACH rollout that made credit transfers a reality was completed last year. Phase Two, which will allow debit transactions on the same day, is planned for September 2017. The third phase, which will usher in faster ACH credit funds availability, is on track to occur in March 2018.