PYMNTS

APRIL 1, 2020

They insert or swipe their debit cards at stores’ point-of-sale (POS) devices — or key in details online — and maybe enter PINs, but the behind-the-scenes processes through which transactions are routed are kept invisible. billion debit purchases that year, for example, and merchants paid $0.44 PIN vs. PINless Processing.

Debit Card 56

Debit Card Electronic Funds Transfer (EFT) Debit Transaction Federal Reserve 56

EBizCharge

JULY 16, 2024

Authorization requirements Before initiating ACH debit transactions, NACHA requires that entities obtain explicit, written authorization from the customer. Authorization documents must be retained and made available upon request, serving as proof of compliance and legitimizing the transaction.

NACHA 52

NACHA Nacha Rules ACH Network ACH 52

PYMNTS

MAY 31, 2018

What these financial players need is a common language, a standard set of rules and operating procedures that they can use to work together efficiently. It recommends converting credit and debit transactions into ACH transactions, and offers standardized guidance for translating ACH reject/return messages.

ISO 20022 40

ISO 20022 ISOs Interoperability NACHA 40

PYMNTS

APRIL 6, 2017

Phase Two, which will allow debit transactions on the same day, is planned for September 2017. Without these resources, Casali said, many financial institutions could be navigating a sea of complex payment procedures without the help of a compass. The past 12 months have been busy for faster payments.

Same Day ACH 40

Same Day ACH ACH ACH Rules Rules 40

EBizCharge

JULY 18, 2024

ACH is widely known for processing large credit and debit transactions, including direct deposits and bill payments. Implementing an EDI payment system can be complex, requiring a clear understanding of both the technological and procedural aspects to ensure successful integration and continuous operation.

ACH 52

ACH Transactions Payments Funds Transfer 52