article thumbnail

ACH Network shows growth in payments at the end of 2020

The Paypers

The ACH Network has shown strong growth in the final quarter of 2020, with 7 billion payments made, an increase of nearly 9% from a year earlier.

article thumbnail

NACHA Approves Expansion Of Same Day ACH

PYMNTS

NACHA — The Electronic Payments Association — announced that its membership has approved three new rules that will expand Same-Day ACH for all financial institutions and their customers. The expansion of Same-Day ACH will be made possible through the creation of a new Same-Day ACH processing window by the two ACH Network operators.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

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. ET (1:45 p.m. PT), providing greater access for all ODFIs and their customers.”.

article thumbnail

Blockchain may rival the ACH network by 2025

The Paypers

(The Paypers) Permissioned blockchain payment systems may see significant transaction volume by 2020, a recent study shows.

article thumbnail

5 Benefits of ACH Payments Over Check Payments

Stax

ACH transfers, or payments made through the Automated Clearing House network, account for billions of dollars in payments annually. In fact, NACHA, the nonprofit that governs the ACH payments network reported 6.1% The average consumer commonly uses the ACH network for automated bill payments and larger transactions.

ACH 88
article thumbnail

Corporates Play Payment Rail Musical Chairs

PYMNTS

NACHA Notches ACH Growth. The most recent figures for ACH adoption released by NACHA were promising, with the ACH Network recording a 7.1 percent year-over-year increase in transaction volume for the first quarter of 2020. B2B payments in particular saw an 11.7 Exploring Correspondent Banking Alternatives.

NACHA 82
article thumbnail

Visa Direct To Power TransferWise Real-Time Global P2P

PYMNTS

Visa Direct has been used to process 2 billion transactions in 2019, a number it is looking to grow in 2020. The broader goal will be to take the Visa Direct-enhanced offering and work with the card network to scale its offering throughout Europe and worldwide in 2020.

P2P 72