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The Corporate America Credit Union (CACU), which serves almost 500 credit unions (CUs) around the world, has become a fundingagent for the RTP network, The Clearing House ’s (TCH) real-time payments network, according to a release. By becoming a fundingagent, CACU is now a partner that can make that process easier.”.
Whether it was helping small businesses get their PPP payments or convert to eCommerce, getting cash in the hands of workers delivering food, or accommodating digitized mortgage closing and escrow activity, the coronavirus has foisted a lot of change on the financial services industry in a short amount of time. “A So Much More Than Payments.
Corporate treasurers show increasing interest in real time and faster payment solutions, the latest research suggests. SMBs using the WePay platform can now see funds deposited into their Chase bank accounts the same day without extra fees, a feature resulting from JPMorgan ’s acquisition of WePay in late-2017.
Innovation in the payments arena has provided more rails upon which to move money. In B2B payments, though, legacy tools continue to lead. Local and global ACH transfers are used by 29 percent (the same portion of businesses that write checks to make international payments), while 17 percent use prepaid debit cards.
12) announcement from the Vermont-based financial institution (FI), which noted that Atlantic Community Bankers Bank (ACBB) will offer fundingagent functions. Wells River Savings Bank will gain access to the RTP® network built by The Clearing House (TCH) via SHAZAM, Inc. according to a Tuesday (Jan.
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