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How to Choose Between EFT vs ACH: A Comprehensive Guide

Stax

Digital wallets accounted for 50% of eCommerce purchases , while debit cards raked up 12% of total transactions last year. Clients only need to swipe a card at your point-of-sale (POS) terminal or enter their bank account number into your website (Initiation). Same-day ACH speeds up the process, but youd have to pay more.

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100+ Payment Industry Terms Explained in Plain English

Clearly Payments

General Terms Merchant A business that accepts credit or debit card payments. Transaction A payment made using a card or digital wallet. Issuer (Issuing Bank) The issuing bank is the bank that gave the customer their credit or debit card. Debit Card A card that pulls money directly from a bank account.

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OnDeck Launches Same-Day ACH Service For SMB Borrowers

PYMNTS

Small business lending platform OnDeck is accelerating access to capital for its users through the launch of a same-day funding option. “We were the first online small business lender in North America to offer instant funding via the Visa debit network. .”

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Thinking Differently On Digital Payments And Data

PYMNTS

Data: March 19, 2012: Expected rollout date for a third Same-Day ACH (SDA) processing window. percent: Q4 increase in B2B transactions via the ACH network. billion+: Number of Visa- and Mastercard-branded debit cards in global circulation. 30 years: Age of the world wide web.

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Faster Payments: Does The Fed Have A Hidden Agenda?

PYMNTS

First, there was the Fed’s decision to slow faster payments progress via Same Day ACH because it wasn’t ready to approve another processing window during the day. And finally, that the banks and the card networks are the big losers. Then came PayPal’s debut of Instant Transfer to Bank. A Couple of Important Dots.

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Making Payments ‘Sezzle’ With Cash Back And ACH

PYMNTS

Same Day ACH payments are gaining traction right out of the gate, with nearly $5 billion and 3.8 The ACH news “definitely has an impact for our business,” said Youakim of the same-day rollout. So, this Same Day ACH is going to improve ACH [as a process] dramatically.

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Why debit became the go-to for faster payments — for now

Payments Source

Same-day ACH debits rolled out last month, a year after same-day credits, cutting processing time for these payments from a couple of days to a few hours — but for many emerging use cases, that’s not fast enough. And debit is filling the void.