Faster Payments Council

JUNE 11, 2020

While we're well on our way to establishing a thriving faster payments ecosystem, we recognize we're still missing a key factor that can contribute to achieving ubiquitous faster payments: interoperability. 53% of respondents expressed the lack of interoperability as a key barrier to faster payments adoption.

Interoperability 68

Interoperability FPC Ubiquitous Faster Payments 68

PYMNTS

OCTOBER 15, 2020

ACH might be among the most readily visible paper check killers — and as Nacha’s Larimer noted, “we need more than just ACH to make huge inroads [against checks]. Real time and the ACH network can actually work together to displace paper checks.” ACH, she said, has been growing by double-digit percentage points annually.

Real Time Payments 125

Real Time Payments NACHA SWIFT TCH 125

PYMNTS

SEPTEMBER 21, 2016

Same Day ACH will create a new option for faster payments for all the banks and credit unions across the U.S. Two new same-day settlement windows will be added to the ACH Network, which will increase the actual movement of funds between all those financial institutions from once a day (at the beginning of the day) to three times a day.

Faster Payments 76

Faster Payments Same Day ACH ACH ACH Network 76

PYMNTS

NOVEMBER 2, 2020

Tech-driven Interoperability and collaboration will finally bring trillions of dollars into the digital age, Kevin Phalen , head of global business solutions at Visa , told Karen Webster in a recent interview. Interoperability will get a boost with messaging standards such as ISO 20022.

B2B 119

B2B Cross-Border Digital Currency Multi-Currency 119

PYMNTS

OCTOBER 10, 2016

“They are trying to maintain interoperability from a global perspective and also trying to achieve that standardization,” he explained. NACHA offers an ISO 20022 Mapping Guide to businesses that enable them to send ISO formatted messages to financial institutions that can then move those payments and information through the ACH Network.

Same Day ACH 76

Same Day ACH ACH ISO 20022 NACHA 76

PYMNTS

FEBRUARY 5, 2020

George Throckmorton, NACHA managing director and executive director of Afinis Interoperability Standards, said using the conventional bilateral agreements for payment data sharing “limits broader industry adoption” and doesn’t meet expectations. Payments on the ACH Network reached a 12-year high in 2019, with 24.7

NACHA 52

NACHA Phixius B2B Same Day ACH 52

PYMNTS

MAY 7, 2019

“Nacha is well positioned for the future, and I look forward to working with our talented team, our great members and industry to further strengthen the leadership position of the ACH Network within our nation’s payment system.”.

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NACHA ACH Network ACH Accreditation 46