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100+ Payment Industry Terms Explained in Plain English

Clearly Payments

NACHA The organization that governs the ACH network in the U.S. 1099-K A tax form that reports card and third-party payment volume to the IRS for U.S. BIN (Bank Identification Number) The first 6 digits of a card, identifying the issuing bank. Fallback When a chip card fails and the system reverts to swipe.

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The Millions And Billions And Trillions Of Same Day ACH

PYMNTS

NACHA, with its Same Day ACH offering, is leading the charge for faster payments in the U.S., and our latest Data Drivers , featuring PYMNTS’ Karen Webster and NACHA CEO Jan Estep, explored the possibilities. This is a new stat, said Estep, who noted the number was uncovered as part of a new survey conducted by NACHA.

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Fintech Trending: P2P, EMV, NFC, NLP… OMG

Fintech Labs Insights

In fact, according to a recent report from Mastercard, 88% of consumers have been issued chip cards, but only 33% of merchant locations accept them. over the course of the year and found: 78% of cards now contain EMV chips, up from 46% in October 2015. Ready, set, ACH. Capital One integration with Amazon Echo.

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