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NACHA Adds 9K Third-Party Senders, Expands ACH Payments

PYMNTS

NACHA , the electronic payments association, announced that banks and credit unions have registered 9,403 third-party senders as of the March 1, 2018 deadline. In a press release , NACHA said the rule, which took effect on Sept. In a press release , NACHA said the rule, which took effect on Sept.

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ACH Fraud Is Rising - And New NACHA Measure Leaves Gaps

FICO

If your institution saw an increase in ACH transactions last year, you’re not alone. NACHA, the payments clearing house through which ACH transactions flow, reported a banner year in 2020, posting an 8.2% Additionally, ACH internet transactions rose 15% from 2019 to 2020. Source: NACHA. increase in volume and a 10.8%

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Important NACHA Changes: Account Validation

Payment Savvy

Starting March 19, 2021, the National Automated Clearing House Association (NACHA) will require businesses to perform online verification of bank accounts before they accept or process ACH payments. ACH payments play a significant part in online payment acceptance options. NACHA’s recent figures revealed that in 2018, U.S

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NACHA Names MicroBilt As Preferred Account Verification Partner

PYMNTS

NACHA has announced that MicroBilt is a preferred partner for bank account verification. A press release issued Wednesday (May 1) said MicroBilt is joining NACHA’s Preferred Partners community, a group of service providers that NACHA says support the payments ecosystem with their solutions.

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Time, Really, for Real-Time Payments?

PYMNTS

The last real change to payments as a system came in the 1970s, when ACH made its debut in the United States and payments as an industry still operates through what she termed “a batch process.”. One issue is that the payment rails currently in use were not designed to support a real-time environment. For CGI’s own clients, as the U.S.

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From ACH To IoT: Looking Back On A Year Of Trackers

PYMNTS

In 2016, the PYMNTS.com Tracker series kept tabs on practically everything within the payments and commerce ecosystem, from A to Z (that’s ACH transfers to Ziosk). As the year opened, our inaugural Faster Payments Tracker™ looked at the looming arrival of the new Same Day ACH. All activity adds to the database. LOOKING AHEAD.

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Faster Payments, Open Banking Should Keep Treasurers On High Alert

PYMNTS

Fraudsters can infiltrate company databases and email accounts to identify which executives would typically initiate a transaction, then pose as that professional to receive company funds without suspicion. In the case of Same Day ACH in the U.S., The tactic is relatively simple.