Remove ACH Remove Check Clearing Remove Same Day ACH
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Don’t Write Off The Paper Check Just Yet

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It’s also true that B2B payments players anticipate the paper check to eventually fall to second place, with corporates instead turning to ACH to pay suppliers. NACHA analysis found accounts receivables professionals predict ACH will surpass checks in the next few years. The expansion of ACH across the U.S.,

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What’s Fast And Slow And Read All Over?

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NACHA has implemented ubiquitous Same Day ACH with credit push and will implement phase two with debit pull in the fall. The paper check clearing system is the biggest drag on faster payments in the U.S. In the two years the Fed has been examining this issue, innovators have gotten the job done.

Fed 47
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The Fastest Path To Faster Payments In The US

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But, don’t look for the recommendation to kill checks to emerge from the report that the 500+ person Fed Task Force that’s examining the path forward for the U.S. Blowing up checks would open a number of other doors for banks to provide value to consumers via “faster” and more efficient payments that they could also monetize.