PYMNTS

SEPTEMBER 9, 2016

With the Same Day ACH rollout coming in just two weeks and other faster payments initiatives taking off, financial institutions are taking significant steps to ensure the transition to a faster processing environment, including improving their payment security platforms to keep fraudsters at bay. Impact On Same Day ACH Rollout.

Same Day ACH

PYMNTS

APRIL 6, 2017

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.

Same Day ACH

PYMNTS

JANUARY 28, 2020

This week’s examination of the latest innovation initiatives finds this to be true both for innovators exploring ways to improve existing rails — like ACH — as well as those that have embraced the development of entirely new rails, including real-time payments (RTP) and blockchain-powered transactions. Same-Day Boosts ACH Adoption.

Same Day ACH

PYMNTS

FEBRUARY 11, 2020

The latest data from Nacha found a new record-high growth rate for adoption of ACH payments , with B2B payments showcasing a surge in adoption of the legacy payment rail that has recently turned to technologies that can augment the service, from the movement of transaction data with an ACH payment to the deployment of Same Day ACH.

B2B

PYMNTS

JULY 6, 2017

With the speed of payments accelerating and Same Day ACH initiatives continuing to roll out, NACHA has pulled together a group of industry experts to explore API standardization as a way to facilitate faster payment speeds and greater transaction security, among other use cases.

API

Stax

JUNE 27, 2024

If you’ve been accepting and using electronic payments in your business, you’ve probably come across two of the most popular terms in the digital payments scene— automated clearing house (ACH) and wire transfer. International wire transfers can take up to 7-10 days Costs and fees Around 1% of the payment amount.

Wire Transfer

PYMNTS

JANUARY 15, 2018

APIs that facilitate data sharing across platforms will be instrumental in addressing some of the key pain points of this global market. 6 percent: the portion of same-day ACH volume that constituted B2B payments during the first 11 days of NACHA’s launch of the service.

API

PYMNTS

MAY 1, 2019

According to Volante, the expanded functionalities of the tool address key pain points for financial institutions, including challenges related to integration and slow onboarding processes. ACH, Same Day ACH, Zelle, RCH RTP clearing and settlement, and SWIFT cross-border payments are all supported under the solution.

ISO 20022

PYMNTS

NOVEMBER 21, 2019

ACI Worldwide is connected to Zelle and The Clearing House (TCH), the latter of which offers Same-Day ACH services. In the U.S., ACI Worldwide said it will now support the Federal Reserve’s upcoming FedNow service. ” “ACI’s commitment to the advancement of faster payments in the U.S.

Faster Payments

PYMNTS

DECEMBER 3, 2020

To address the supplier acceptance challenge, CardUp automatically shifts bank transfer or check payments to cards, while ensuring that suppliers receive those funds via the original payment method. Nacha Drives Corporate ACH Adoption. Nacha is rolling out a new resource center designed to help corporates embrace the ACH Network.

B2B

Payment Savvy

DECEMBER 11, 2023

Automated Clearing House ( ACH) transfers have revolutionized the way we handle our finances, offering a convenient and secure method to send and receive money electronically. Whether it’s receiving your paycheck through direct deposit or paying your bills online, ACH payment solutions have become an integral part of our daily lives.

ACH

Nanonets

SEPTEMBER 8, 2023

Ach and Wire are two of the most popular ways of money transfer in the United States. First, let's delve into the mechanics of ACH and Wire transfers, followed by an exploration of their distinctions, guidance tailored for small businesses, and concluding with instructions on establishing ACH and Wire processes.

Wire Transfer

PYMNTS

MARCH 18, 2019

Steve Jobs, in his very famous 2005 Stanford commencement address , said connecting the dots was only possible with hindsight, by looking in the rearview window at the series of things that had happened over the course of one’s life to explain the actions of the here and now. and one of two operators of the ACH network in the U.S.,

Faster Payments

PYMNTS

FEBRUARY 5, 2020

The ACH payments and financial data exchange nonprofit NACHA is developing a digital platform to streamline payments by facilitating data sharing via a centralized hub, NACHA announced Wednesday (Feb. The innovative hub addresses the industry’s plea for an easy, automated way to exchange transaction information. “EY percent over 2018.

NACHA

PYMNTS

SEPTEMBER 17, 2018

Coverage includes the latest on Amazon’s brewing data scandal, along with news about same-day ACH. Payments reportedly ranged from $80 to $2,000, with Amazon workers selling internal sales metrics and reviewers’ email addresses. NACHA Approves Expansion o f Same – Day ACH.

Same Day ACH

PYMNTS

OCTOBER 3, 2017

The discussion took place as NACHA unveiled Phase Two of its Same Day ACH initiative, debuting same-day debits with an eye on settling bill payments with speed and security. Firms in those industires can look to faster ACH payment options as a cost-effective and customer satisfying alternative to card payments.

Faster Payments

PYMNTS

APRIL 30, 2020

This week’s examination of the latest in payments rails innovation finds financial service providers innovating on top of existing rails to address the friction of ACH, checks and other bank transfer infrastructure. ACH Gets A Boost In The Public Sector. Invoiced Tackles The Friction of Check.

Innovation

PYMNTS

FEBRUARY 19, 2019

When NACHA first released its Same Day ACH capability, only about 6 percent of the first 2 million transactions made in the service’s first 11 days were B2B payments. Addressing the remittance data gap may certainly help to spur adoption of digital and faster payments in the B2B arena.

Faster Payments

PYMNTS

OCTOBER 14, 2019

Paychex also announced support for real-time payments to address the cash flow concerns of professionals living paycheck-to-paycheck. Following its launch of same-day ACH credits in 2016, Paychex said it will introduce support for real-time deposits of earned wages into employees’ bank accounts.

Real Time Payments

PYMNTS

DECEMBER 12, 2017

Federal Reserve made its own progress in exploring how the nation’s regulatory environment can support faster payments progress while maintaining security, while NACHA offered up some new data on same-day ACH volume growth in the country. billion in funds transferred using Same Day ACH, an average of $650 per transaction.

Faster Payments

PYMNTS

FEBRUARY 6, 2020

Recently-launched capabilities like Same Day ACH have unlocked opportunity to wield modern technology and build new solutions on top of existing payment rails in favor of speed and transaction transparency, but there’s another strategy to payments innovation that continues to gain traction.

Settlement

PYMNTS

SEPTEMBER 15, 2020

The new rule comes at a time when Nacha has reported that ACH payments have become increasingly popular, perhaps not a surprise as more transactions and commerce move online. As to why the account validation rule is particularly timely, Johnson said, “Nacha's goal with this change is to clean up the ACH system.

NACHA

PYMNTS

JANUARY 21, 2019

The Fed’s real-time payments proposal, FIN says, will address these issues with a new, modern and interoperable system. Oddly, the push for faster payments also comes at the same time when payments in the U.S. It didn’t take a regulatory proclamation for Same Day ACH to become ubiquitous in the U.S. –

Faster Payments

PYMNTS

JANUARY 15, 2018

Last June, NACHA and the Credit Research Foundation said that at present, paper checks make up half of B2B transactions received in the accounts receivable department; ACH accounts for less than a third. Further, in NACHA’s most recent update on same-day ACH volume – which found $87.1

B2B

PYMNTS

JUNE 29, 2018

. “We want to offer our customers the widest solution, soup to nuts — that means creation of the remittance data, creation of the payment, reconciliation of the payment, treasury management services, the entire spectrum,” he noted, adding that virtual cards can address all of these needs for insurance firms.

Faster Payments

PYMNTS

FEBRUARY 15, 2018

We’re bringing back the old ACH online payments into the game,” he said, “which normally is only used for mortgage payments or topping up a balance on PayPal or something like that.”. Alas, ACH is a far-from-perfect payment rail, Koeppel admitted. We would love [ real-time ACH ]. “We We would love [ real-time ACH ].

ACH

PYMNTS

OCTOBER 8, 2018

Those payments are made largely over rails that have been in place for decades: the bank, ACH and wire rails and via a payment method that has existed for centuries — the good, old-fashioned paper check. ACH rails now settle same-day, three times a day. The rules of the existing rails have been modernized too.

B2B

PYMNTS

MARCH 20, 2018

Australia has just rolled out the New Payments Platform (NPP), a system to facilitate faster payments in the country, but a recent speech by Michele Bullock, assistant financial system governor of the Reserve Bank of Australia (RBA), suggests there is more to be done to address fraud risks. Same Day ACH limits transaction values to $25,000.

Faster Payments

PYMNTS

NOVEMBER 1, 2018

The check – for its many, many flaws – does address all three of those aspects. That might mean, for example, pushing funds via ACH to an operating account, the creation of a virtual card or a request of an instant payment, depending on the recipient’s needs. And that’s pretty well why it persists.

Checks

PYMNTS

FEBRUARY 9, 2017

As T+3 was being implemented in the early 90s, the concept of using ACH was raised, but there were two problems that, at the time, were insurmountable. As the NACHA Rules have evolved, so has the concept that the Standard Entry Class can be used to determine how an ACH Entry is handled.”

Reg E

PYMNTS

JANUARY 23, 2018

So, while the FinTech industry remains fixed on killing the paper check, fewer players are concerned with how to address ongoing points of friction for financial institutions that are still flooded with paper. NACHA analysis found accounts receivables professionals predict ACH will surpass checks in the next few years.

Remote Deposit Capture

PYMNTS

JUNE 18, 2019

The rollout of Same Day ACH several years ago served to kick-start the process.”. Banks that roll out the same type of functionality to their corporate clients will have a clear competitive advantage in the corporate realm. “ It has the ability to replace not only checks, but cash, wire and ACH.”. RTP And RFP.

RTP

PYMNTS

MAY 3, 2018

The feature addresses the friction of payroll delays associated with vacations and invoice delays, the company noted. Paychex is also offering use of same-day payroll capabilities via Same Day ACH twice a year for free, as well as a feature to build up businesses’ credit histories by sending data to credit bureaus.

Payroll

PYMNTS

SEPTEMBER 23, 2016

Same Day ACH Is Here. But in less than 18 months after NACHA members approved Same-Day ACH functionality for all of the banks in the U.S., But in less than 18 months after NACHA members approved Same-Day ACH functionality for all of the banks in the U.S.,

Data Breach

PYMNTS

SEPTEMBER 17, 2019

A series of payment innovations are promising to put an end to some common B2B payment frictions, including online portals, same-day ACH and automated accounts receivables (AR). These delays can result in late fees or fines, delayed delivery of supplies and can even interrupt firms’ expansion goals. Fraud Epidemic.

Same Day ACH

PYMNTS

FEBRUARY 20, 2018

Same Day ACH became a reality in 2017 after the National Automated Clearing House Association (NACHA) introduced its faster payments infrastructure to the market. In addition, innovators the world over are exploring how technologies like blockchain could address payments speeds and efficiency on an international level.

Cross-Border Payments

PYMNTS

DECEMBER 27, 2019

B2B payments innovation continued to heat up in 2019, with an ecosystem focused on transaction speed and data integration finding new opportunities to build innovative solutions that address some of the biggest B2B payment friction points. The Moving Target of B2B Friction. In the U.S. New Challenges, New Tech.

B2B