article thumbnail

The Hidden Costs of Payment Processing No One Talks About

Clearly Payments

Customer Expectations In 2024, around 82% of American consumers preferred to pay by card, digital wallet , or other electronic means, according to a Federal Reserve survey. Example: For B2B and B2G (government) transactions, providing additional data like invoice numbers and purchase order info can lower your rates.

Process 105
article thumbnail

How Governments Navigate ACH Payments Innovation

PYMNTS

“On the government side, I feel they have been even more successful at implementing ACH, whether it be G2B or B2G payments,” he said. While key ACH industry stakeholders like NACHA, The Clearing House and the Federal Reserve work to accelerate innovation in ACH payments, the focus in the U.S.

ACH 64
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

The US Government’s eInvoice Mandate: Better Late Than Never

PYMNTS

At present, the federal government said, 19 million invoices are processed every year; about 12 million of them (40 percent) are received in the form of paper. In its U.S. payments system as outlined in its Strategies for Improving the U.S. “The This is a significant mandate because the U.S. Further, the U.S.

B2G 42
article thumbnail

SMB eInvoicing, With A Responsibility To Both Protect And Share Data

PYMNTS

The Federal Reserve’s recent paper exploring the upcoming mandate said officials hope a B2G eInvoicing mandate will permeate into the B2B world as well. requirements will apply to government suppliers and will impact hundreds of billions of dollars worth of government contracts.