PYMNTS

AUGUST 13, 2019

Recent news articles outline schemes that employees with access to payroll data commit to reroute direct deposits into their own bank accounts or to sign up fake employees for automatic paychecks on a bi-weekly basis. On top of this internal fraud, cyberattackers are also targeting payroll systems with similar intentions.

Payroll 60

Payroll Direct Deposit Phishing Cybersecurity 60

PYMNTS

NOVEMBER 10, 2016

9) that revenue and earnings surpassed Wall Street expectations, driven by growth in its core card business and in newer initiatives, such as direct deposit and fund reloading on those cards. a share on an adjusted basis, beating the consensus by four pennies. Green Dot, the prepaid card and bank operator, said Wednesday (Nov.

Direct Deposit 48

Direct Deposit CFPB NOV Rules 48

PYMNTS

MAY 12, 2020

The two-week cycle, Ossip said, is a remnant of an era when that was roughly how much time it took to true up those two systems or get all the necessary managerial approvals to send the files to be paid, and then transmit the funds — either via check or ACH-based direct deposit — to consumer bank accounts.

Payroll 108

Payroll On-Demand Direct Deposit Process 108

PYMNTS

MARCH 2, 2020

Employers that cannot quickly adjust their staffing levels to meet customer demand fluctuations and workers’ life shifts may find themselves in a bind. Bank account holders may select this method because it makes funds immediately available and dodges the one- to two-day wait typical of direct deposit.

Payroll 52

Payroll Direct Deposit ATM Checks 52

PYMNTS

AUGUST 12, 2020

There, one of the most valuable strengths of the prepaid card is the opportunity for continued management of the card, even within remote working conditions, as employers can reload cards or adjust restrictions digitally. “We don’t assume we’ll completely replace direct deposits, ACH transfers or checks,” said Draper.

B2B 67

B2B Push-to-Card Direct Deposit Payments 67

PYMNTS

JULY 27, 2020

Having to file the claim and manually provide bank account details to receive a direct deposit, or wait for a check in the mail, means there is more time between when an incident occurs and when the policyholder can access the funds needed to address it.

Innovation 98

Innovation Automation End User Near Real-Time 98

PYMNTS

MAY 31, 2019

Direct deposits are also instant but aren’t typical of gig economy type jobs and are more common with W-2 income, which is likely why gigs not sourced on digital marketplaces were likelier to use direct deposit. billion, while Lyft’s adjusted per-share loss was $9.02. This correlates to the majority (51.3

Direct Deposit 49

Direct Deposit Economy PayPal Participant 49

PYMNTS

JULY 7, 2020

After all, they have a lot of historical consumer data on hand, as well as computer models they can adjust to reflect the current (and rapidly changing) consumer credit realities. For neobanks, that could involve appealing to certain demographics or worker cohorts such as gig economy workers with direct deposit or advance payment offerings.

FinTech 89

FinTech Direct Deposit Consulting Innovation 89

EBizCharge

DECEMBER 18, 2024

Payment clearinghouses consist of: Automated clearinghouse (ACH): Handles electronic payments such as direct deposits, bill payments, and money transfers. Handle the daily settlement process (market-to-market), where gains and losses are calculated and adjusted based on market movements.

Facilitators 52

Facilitators Transactions Settlement Mitigation 52

PYMNTS

AUGUST 12, 2020

While the demand for faster access to payouts has historically driven the growing preference among SMBs to receive funds via direct deposit rather than check, the pandemic has elevated that need as business owners look to avoid a visit to a physical bank branch.

Small Business 91

Small Business Underwriting Direct Deposit Shutdown 91

PYMNTS

FEBRUARY 13, 2020

Profitability remains elusive in the Neobank model — which touts 5 million users, but has yet to see heavy transaction activity across direct deposit accounts. “And they’re doing an amazing job of rethinking experience, but it’s not just about experience. Trust still matters.”.

Online and Mobile Banking 92

Online and Mobile Banking Venmo Direct Deposit Deposit Account 92

PYMNTS

DECEMBER 2, 2020

that will give its more than 3 million customers access to direct deposits a day early. The benefit will be powered by the payments platform Modulr — Revolut’s payment partner that has direct access to the Bank of England. UK Revolut Customers Get Access To Early Payday Option. Cyber Monday Rings Up A Record $10.8

SWIFT 56

SWIFT Cross-Border Payments Cross-Border CFPB 56

PYMNTS

JUNE 2, 2020

Financial institutions (FIs), businesses and healthcare providers are adjusting their operations to suit the new reality that the COVID-19 pandemic has caused. Others had checks sent to the wrong addresses, though Teladoc noted these errors only impacted approximately 2 percent of its payments.

IRS 82

IRS Checks Instant Payments Direct Deposit 82

PYMNTS

JULY 17, 2020

That includes seamless adjustments to employee compensation based on current market conditions, as well as the ability to integrate with employee time sheet data for automated compensation calculation. “Health and safety concerns from COVID-19 have only accelerated the move toward digital payroll,” said Kintzel. ”

Payroll 64

Payroll Direct Deposit Automation Contactless Payments 64

PYMNTS

MAY 12, 2020

In terms of headline numbers, Green Dot’s adjusted earnings per share were $1.13, better than the Street by 20 cents. The company also said that it had an increase in direct deposit active accounts of four percent. Revenues were $362.2 million, better than the Street by $38 million, and up 6.4 percent year over year.

Direct Deposit 54

Direct Deposit Adjustments FinTech Consumer 54

PYMNTS

JUNE 4, 2019

In some respects, it depends on a small business’s ability to adjust its vantage point, and to view payroll more as an opportunity to promote growth. . “In the SMB space especially, there is a reluctance to add on additional complexity,” he said.

Payroll 57

Payroll Payment APIs and Integration Small Business Payments 57

EBizCharge

OCTOBER 17, 2023

The most common transactions sent over ACH include electronic funds transfer (EFT), employee payroll direct deposits, and electronic bill payments. Account balance adjustment: Finally, the originator’s account will be adjusted to reflect the return of the failed payment. What is an ACH reversal?

ACH 52

ACH Returns RDFI ODFI 52

PYMNTS

FEBRUARY 6, 2018

From employers who use the service for direct-deposit payments to landlords and utility companies that use it to collect rent or monthly bills, same-day ACH has been gaining in popularity and putting a variety of payment types in the fast lane.

Same Day ACH 43

Same Day ACH Faster Payments ACH NACHA 43

PYMNTS

APRIL 22, 2020

While there has been some innovation in wage payment mechanisms as more employers shift away from the paper check toward direct deposit and payroll cards, little has changed about the timing of those payments. It’s also opened up conversations about how professionals get paid.

Payroll 62

Payroll ACH Same Day ACH Innovation 62

EBizCharge

SEPTEMBER 17, 2024

ACH transfers are managed by the National Automated Clearing House Association (NACHA) , which ensures a safe and efficient way to make various financial transactions, including direct deposits, direct payments, tax payments, and other business payments without the need for physical or cash.

ACH 52

ACH Same Day ACH Electronic Funds Transfer (EFT) Direct Deposit 52

Fintech Review

MAY 2, 2025

Users can now receive direct deposits, access cashback debit cards, and manage their balance like a basic current account. Users can now adjust who sees their activity, manage contacts, and limit app data sharing. Still, the model remains attractive for sole traders and side hustlers. Still, education remains important.

Venmo 59

Venmo FinTech Multifactor Authentication Debit Card 59

FICO

MARCH 9, 2020

Even though prepaid cards share common functions with regular debit cards, including making payments and receiving direct deposits, prepaid card transactions may show intrinsically different characteristics.

AI 52

AI Fraud Detection Debit Card Error Resolution 52

PYMNTS

JULY 7, 2020

These problems with starting the loan process are causing SMBs’ financial issues to snowball, too, as even those that receive loan disbursements via direct deposits or ACH payments must determine how to distribute the funds to employees or business partners. where firms are facing financial hardships and dips in consumer spending.

Checks 55

Checks ACH SWIFT Direct Deposit 55

PYMNTS

MAY 6, 2019

As is the case for any new innovation, adoption takes some adjustment. A supplier may want to accept push payments made via virtual cards, for example, enabling a buyer to directly deposit money into the supplier’s account. Payment data is sent alongside push payments, however, providing more rapid reconciliation. .

Push-to-Card 44

Push-to-Card Risk Debit Card B2C 44

Tearsheet

MARCH 27, 2024

Workers have the option to receive EWA funds at no cost within 1-3 days via ACH, or they can opt to have their direct deposit sent to a reloadable Visa debit card, named Friday by DailyPay. Alternatively, DailyPay charges a fee if employees choose to instantly send EWA wages to a card or account.

Instant Payments 64

Instant Payments RTP Consumer Financial Protection Bureau (CFPB) Junk Fees 64

PYMNTS

JUNE 4, 2020

Many begin their move to electronic disbursements by creating support for ACH payments that are directly deposited into patients’ bank accounts. Many are still adjusting to ACH disbursements that run on legacy systems tailored for check claim payments or employees manually verifying details on paper documents.

ACH 52

ACH Checks SWIFT Direct Deposit 52

PYMNTS

OCTOBER 30, 2020

Is it going to flow into my reporting in a way I can easily adjust to, or will [the bank] start sending me reports on Sunday as well?’” Using the RTP network can be simpler and more compelling for some types of businesses, such as those already accustomed to delivering payroll via ACH direct deposit. Carter said.

Faster Payments 59

Faster Payments Payments Tools RTP Same Day ACH 59

Nanonets

MARCH 27, 2024

Still, they tend to be quick, and some banks even support same-day deposits, though it's rarer for international wire transfers than domestic. ACH transfers use a third-party facilitator to process a range of transactions, including debits, direct deposits, electronic checks, electronic fund transfers , and direct payments.

International Payments 52

International Payments Wire Transfer Cross-Border Wire 52

PYMNTS

JUNE 8, 2018

Once access to them expands, the government would have needed to urge companies to pay employee salaries using direct deposit, then gradually phase out larger denomination bills. However, promoting digital bank accounts was just the first precondition. It’s a huge emotional thing.”.

Economy 49

Economy Governance Government Direct Deposit 49

PYMNTS

MARCH 28, 2016

government decided to save billions of dollars by eliminating Social Security checks in favor of making them a direct deposit to a depository account. And the government said that it saved $1 billion by making that one adjustment. There is some precedent for getting rid of the check here in the U.S. In 2011, the U.S.

Faster Payments 48

Faster Payments Checks Payments Fed 48

Nanonets

MARCH 4, 2024

Updating and Evolving Policies: Bi-annual reviews to adjust limits and categories as per market rates and company growth. The management team, acknowledging the practical challenge, decides to adjust the policy. Schedule Regular Reimbursement Cycles: Establish a regular schedule for reimbursements (e.g.,

Process 52

Process Compliance Automation Audit 52

Nanonets

APRIL 4, 2023

You can see every activity: your direct deposit, your cell phone bill, the pizza you ordered, and a balance that shows how much is in the account after every transaction. It’s easier to set up more accounts in Excel than you need right now, than to adjust formulas and worksheets later when you need more accounts.

Small Business 52

Small Business Accounts Automation Payment APIs and Integration 52

Nanonets

JUNE 29, 2023

Flow is highly customizable, enabling users to adjust extraction rules and train their own models. Direct Deposit: Rippling supports direct deposit functionality, allowing businesses to automate payroll payments directly into employees' bank accounts.

Payment APIs and Integration 52

Payment APIs and Integration Online and Mobile Banking Automation Push-to-Card 52

Segpay

MARCH 10, 2025

Bank Transfers Direct deposits and withdrawals from bank accounts provide an alternative for players who prefer traditional banking methods. Credit & Debit Cards Traditional payment methods like Visa and Mastercard remain the most widely used due to their global acceptance and reliability.

Payment Gateways 40

Payment Gateways Gateways Payment Solutions Payment APIs and Integration 40

Nanonets

JANUARY 17, 2024

Updating and Evolving Policies: Bi-annual reviews to adjust limits and categories as per market rates and company growth. The management team, acknowledging the practical challenge, decides to adjust the policy.

Payment APIs and Integration 52

Payment APIs and Integration Compliance Automation Audit 52

PYMNTS

JUNE 29, 2020

The whole world is adjusting to the new normal related to [COVID-19], and we’re seeing our customers adjust their financial behavior and interactions with us accordingly,” said Ben Soccorsy , head of digital payments at Wells Fargo. How Digital Banking Has Adjusted to the New Normal.

Online and Mobile Banking 126

Online and Mobile Banking IRS Adjustments Checks 126

PYMNTS

MAY 7, 2020

This amount will be $1,200 unless adjusted gross income exceeded $150,000.”. If a taxpayer died during that timeframe and the person had provided direct deposit information, stimulus money might have automatically gone into the individual’s bank account. The number of such checks that were sent is unclear at this point.

IRS 64

IRS Checks Direct Deposit Returns 64