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100+ Payment Industry Terms Explained in Plain English

Clearly Payments

ACH (Automated Clearing House) The U.S. Same Day ACH A faster version of ACH that settles payments the same business day. 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.

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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., The network has evolved to offer a set of different payment options; most notably, it “allows next-day payments, value-dated payments and now same-day payments.”. How fast is fast enough? Data Point Two: 26 Million.

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PYMNTS

3 : The number of times per day Same Day ACH will move money between all bank accounts in the U.S. 700 Million : The approximate number of chip cards in circulation in the U.S. 11% : The amount of consumer churn on some products, according to Dan Burkhart, CEO and cofounder of Recurly.

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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. Capital One integration with Amazon Echo.

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