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SameDayACH is ready for its debut at the end of the week, and for some, its launch signals the next step for the payments industry to become faster and more digital. In B2B payments, those characteristics could have a significant impact on supplier payments and other B2B payment habits.
With fasterpayments functionality beginning to take off in the U.S., the outlook of how accelerated transaction times might impact B2B payments and, more specifically, the issue of late payments to suppliers, remains unclear. “We see fasterpayments coming into the U.S. and Europe have imposed.
“More people than ever are benefitting from SameDayACH. With the enhancements to SameDayACH, the ACH Network is delivering the capabilities requested by corporate end users.”. billion ACH debit and nearly 2.3 In all, more than 3.3 NACHA said 43.2
. “There is some value in speed of payment,” he said of the insurance sector’s interest in faster B2B payments. “But speed of payment doesn’t mean anything if you don’t know what it’s for.” “We see really high adoption of virtual cards.”
More often, businesses will find that the clunky paper check is actually the payment method best suited to support the movement of remittancedata along with funds, although businesses are still struggling to find affordable and efficient ways of ingesting that information. There’s nothing more valuable than remittancedata.
Meanwhile, both PNC Bank and Bank of America introduced new solutions designed to ease friction in B2B payments by embracing a range of existing rails. It’s both a show of support for a new rail like RTP, as well as for the strategy to improve upon legacy rails like ACH. s first new payment rail since ACH launched in 1974.
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