PYMNTS

SEPTEMBER 21, 2016

Same Day ACH is ready for its debut at the end of the week, and for some, its launch signals the next step for the payments industry to become faster and more digital. But a new report finds that, even as Same Day ACH is fast-approaching, businesses are actually increasing their use of paper checks.

Same Day ACH

PYMNTS

SEPTEMBER 12, 2019

PYMNTS research released last October in the “ Bringing Corporate Payments Out of the Dark Ages ” webinar revealed 64 percent of B2B payments are made with checks, despite consumer payments’ acceleration toward electronic tools. Check and ACH transactions have been around for a long time for a reason.

AFP

PYMNTS

JULY 25, 2018

The problem is getting worse, according to the Association for Financial Professionals’ (AFP) latest Payments Fraud and Control Survey Report. While the continued strength of BEC scammers may not come as a surprise, the research finds that the scam no longer only reigns in targets with a request for wire transfer.

Scams

PYMNTS

APRIL 13, 2020

Fraud was all over the headlines this past week, with top stories related to Travelex’s ransomware payment , Luckin Coffee’s internal accounting fraud investigation, and new research anticipating an ongoing surge in payments fraud. Though the figure is high, it’s a decrease from 80 percent in 2018, the AFP noted.

Business Email Compromise

PYMNTS

SEPTEMBER 26, 2016

Using FIS-run PayNetExchange to process ACH, checks and virtual cards and using Comdata to issue Mastercard commercial cards, Corcentric pulls in payment capabilities across a range of rails to support the last mile of the B2B transaction. The data makes that glaringly clear. There’s a lot of friction between suppliers and customers.”

B2B

PYMNTS

APRIL 14, 2017

The Association for Financial Professionals (AFP) came out with some scary statistics this month: B2B payments fraud is not only on the rise, but at its highest levels ever since the AFP began recording this information. But there are other ways the AFP found businesses are exposed to payments fraud, most notably through the BEC scam.

AFP

PYMNTS

MARCH 2, 2016

Reports by TechCrunch cite a cost of between $7 and $16 for businesses to send a check, according to research in the AFP Payment Cost Benchmarking Report by Aberdeen Group and Bank of America. Researchers found that, in 2013, $30 trillion worth of checks were sent between businesses; it cost those companies $25 billion a year, however.

Checks