PYMNTS

FEBRUARY 11, 2020

The latest data from Nacha found a new record-high growth rate for adoption of ACH payments , with B2B payments showcasing a surge in adoption of the legacy payment rail that has recently turned to technologies that can augment the service, from the movement of transaction data with an ACH payment to the deployment of Same Day ACH.

B2B 89

B2B Same Day ACH NACHA ACH 89

PYMNTS

APRIL 22, 2020

While there has been some innovation in wage payment mechanisms as more employers shift away from the paper check toward direct deposit and payroll cards, little has changed about the timing of those payments. ACH Innovation Breaks The Mold. migration toward faster payment capabilities closely.

Payroll 62

Payroll ACH Same Day ACH Innovation 62

PYMNTS

NOVEMBER 13, 2019

Faster payments continue to gain traction in the U.S., However, real-time payments (RTP) have a long way to ubiquity, and while each payment rail has its advantages, each also has drawbacks that could stifle efforts for near-universal adoption. Payment Rail Collaboration. In the U.S., The Ubiquity Challenge.

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Real Time Payments Faster Payments Federal Reserve RTP 51

PYMNTS

JANUARY 15, 2018

It was only (relatively) recently that B2B payments finally secured significant attention and investment from innovators. It exemplifies the newly innovative nature of the B2B payments market, but Ernest Rolfson, Finexio CEO, says that doesn’t necessarily mean progress is guaranteed.

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B2B Same Day ACH Innovation NACHA 55

PYMNTS

JANUARY 21, 2019

That was the day that an advocacy group, Financial Innovation Now (FIN), submitted a public comment letter to the Fed in response to its proposal to create and operate a real-time payments system in the U.S. It also comes at a time in the U.S. It flew in on Dec. Here’s where the canary flew in.

Faster Payments 77

Faster Payments Same Day ACH Fed Real Time Payments 77

PYMNTS

JULY 6, 2017

With the speed of payments accelerating and Same Day ACH initiatives continuing to roll out, NACHA has pulled together a group of industry experts to explore API standardization as a way to facilitate faster payment speeds and greater transaction security, among other use cases.

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API Same Day ACH NACHA ACH 79

PYMNTS

SEPTEMBER 19, 2019

It’s not as if firms lack interest in improving the speed of B2B payments. A majority (55 percent) of corporate professionals identified real-time payments as their top B2B payment service priority, according to the Real-Time Payments Innovation Playbook. Security vs. Friction.

B2B 53

B2B Innovation Real Time Payments Same Day ACH 53

PYMNTS

APRIL 30, 2020

This week’s examination of the latest in payments rails innovation finds financial service providers innovating on top of existing rails to address the friction of ACH, checks and other bank transfer infrastructure. Western Union Expands Real-Time Capabilities. Invoiced Tackles The Friction of Check.

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Innovation Global Payments Cross-Border ACH 73

PYMNTS

JANUARY 8, 2021

So Much More Than Payments. The term real-time payments is “a bit of a misnomer,” Whisler said, since the actual payment is just one piece of a much broader transaction and experience, that includes instant confirmation of the payment and additional data about the transaction. RTP Outlook.

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RTP TCH Funding Agent Continuing Education 139

PYMNTS

DECEMBER 8, 2016

Less than two months after its implementation, Same Day ACH, the ubiquitous faster payments initiative for the payments industry in the United States, is showing a significant impact on the market, but it still has plenty to learn from those across the pond. This growth is set to get even bigger.

Faster Payments 69

Faster Payments Same Day ACH ACH NACHA 69

PYMNTS

DECEMBER 31, 2019

Manual processes can be particularly problematic for such businesses because these firms can generate thousands of payments every day. The following Deep Dive further explores how paper-based methods can result in processing delays and how new, cutting-edge payment innovations can drive accounts payable (AP) automation.

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Process Innovation Same Day ACH B2B 61

PYMNTS

FEBRUARY 4, 2019

Real-time payment systems are quickly cropping up across the globe. This rapid expansion is fueling predictions that the global real-time payments market will rise from a value of $6.8 The Federal Reserve’s Faster Payments Task Force established a goal in July 2017 that any consumer or business with a U.S.

Faster Payments 73

Faster Payments Federal Reserve Real Time Payments TCH 73

Payment Savvy

MAY 16, 2023

What Are Instant ACH Transfers? Instant ACH transfers are a modern innovation in digital payments, allowing for near-real-time movement of funds between bank accounts. These transfers are processed on a per-request basis and can help recipients access their funds faster than with standard ACH transfers.

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ACH Same Day ACH Direct Deposit Consumer Financial Protection Bureau (CFPB) 94

PYMNTS

MARCH 18, 2019

Take two announcements from just last week, related to the evolution of faster payments in the U.S. 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. Faster Payments Is Happening, Fast.

Faster Payments 80

Faster Payments Fed RTP Same Day ACH 80

PYMNTS

JUNE 18, 2019

It’s a well-known fact, too, that corporate payments (the B2B kind) are ripe for digitization, and for a wholesale move away from the paper chase, where checks are still stubbornly tied to 50 percent of corporate transactions. where, for example, the Federal Reserve is mulling the development of its own real-time system. (

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RTP P2P B2B RFP 78

PYMNTS

DECEMBER 4, 2018

The uptake of faster payment systems keeps going up — and up, and up. In fact, the number of Same Day ACH transactions rose by 192 percent in Q3 2018 over the same period from the previous year. In the new Faster Payments Tracker , PYMNTS examines these issues and the latest efforts to remedy them.

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Central Bank Real Time Gross Settlement (RTGS) RTP Faster Payments 70

PYMNTS

FEBRUARY 6, 2020

In today’s market of real time, legacy payments infrastructure needs a facelift. The ability for real-time settlement to essentially erase the risk of a bounced check or insufficient funds can be an attractive proposition for businesses. We’re starting from scratch,” he said. Especially in the U.S.,

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Settlement B2B Same Day ACH ACH 67

PYMNTS

NOVEMBER 6, 2018

. Last year, only 25 real-time payment systems were operational worldwide — that number is growing rapidly. Demand is also heating up for real-time gross settlement (RTGS) systems. Recently, NACHA — The Electronic Payments Association approved three new rules to update Same Day ACH services.

Faster Payments 53

Faster Payments Real Time Gross Settlement (RTGS) Same Day ACH Cross-Border Payments 53

PYMNTS

SEPTEMBER 17, 2018

But to remind all of us that payment innovations are only as good as the certainty those innovations deliver to their intended users. Consumers know that payment methods bearing their brand are accepted at tens of millions of merchants globally and that when they use those products, they work reliably.

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Rules Zelle Payments PayPal 78

PYMNTS

MAY 12, 2020

In the journey to improving B2B payment processes, it’s unlikely that any single solution will be the silver bullet to combating friction. In this week’s examination of payment rail innovation, PYMNTS explores the latest efforts to tackle B2B payments pain points. GreenBox POS Adds Same-Day ACH Support.

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B2B Same Day ACH FedNow Federal Reserve 52

PYMNTS

MAY 4, 2016

In this month’s Faster Payments Tracker™ , powered by NACHA, payment providers, in efforts to keep up with modern behavior, are looking for new ways to streamline and quicken financial processing. Companies said they were also interested in how ACH might impact expedited bill pay, person-to person functionality, and payment options.

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Faster Payments Same Day ACH NACHA ACH 40

PYMNTS

FEBRUARY 21, 2017

For financial institutions and merchants, validating transactions in real time can be a boon, eliminating returns or declined transactions. As for the Same Day ACH initiative launched late last year, the executive noted that employers can complete critical deposits, such as payroll, done without errors or delays.

Faster Payments 51

Faster Payments Same Day ACH NACHA Credit Union 51

PYMNTS

OCTOBER 8, 2018

B2B payments innovators and Warren Buffet have something in common: They are both obsessed with rails. Making B2B Payments Rails Hot. Today, a host of innovators are making B2B payments rails sexy again too. Topic Two: Banks — sure, they’re boring as all get out, but they are innovating.

B2B 76

B2B Same Day ACH Payments ACH 76

PYMNTS

AUGUST 4, 2017

However, if recent developments in the financial services industry are any indication, innovation waits for no institution, company, agency or, for that matter, Fed report. Many players in the financial services market were already launching innovative solutions without knowing which guidelines the Fed would recommend for the U.S.

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Community Banks Faster Payments Innovation Same Day ACH 46

PYMNTS

OCTOBER 11, 2018

Whether you are new to banking, don’t have regular paychecks or typically manage money with cash, we believe the Greenhouse experience can help you manage day-to-day spending while planning for the future.”. Even so, the enterprise is still unsure about faster and real-time payments. In the U.S.,

Faster Payments 60

Faster Payments Economy Real Time Payments Online and Mobile Banking 60

PYMNTS

MARCH 3, 2017

Rather, it is a question that takes shape as innovation comes, as it always does, consistently and constantly, to the payments world. With change comes examination of the infrastructure in place that’s necessary to make payments smoother, more transparent and, of course, faster. . Repeal and replace?

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Same Day ACH NACHA ACH Payments 50

PYMNTS

JANUARY 31, 2019

NACHA recently released new figures on ACH network volume, revealing earlier this week that Same-Day ACH volume grew 46 percent between Q4 2017 and Q4 2018, surpassing 50 million transactions for the first time. demand for faster payment capabilities, too. ” As the U.S.

Faster Payments 73

Faster Payments Money Laundering Same Day ACH AML 73

PYMNTS

JUNE 18, 2019

Adoption of real-time payments in the U.S. The assumption, of course, is that faster payment functionality only has a place in the peer-to-peer payments arena. ’s push for real-time payments is led by The Clearing House, which aims for ubiquity of its real-time payments (RTP) network by 2020.

RTP 47

RTP Real Time Payments Credit Union Payment APIs and Integration 47

PYMNTS

MARCH 30, 2018

When it comes to faster payments, B2B payments aren’t necessarily chomping at the bit for the capability. According to NACHA statistics on Same Day ACH, nearly 2 million debits were made in just the first 11 days of service, accounting for a combined $1.5 Faster payments are “the No. billion in funds.

Payroll 53

Payroll Faster Payments Direct Deposit Same Day ACH 53

PYMNTS

JANUARY 9, 2019

While financial services (FinServ) innovations often emerge with built-in security measures, new market trends — including faster payments and open banking — are introducing new security threats to corporate treasury departments, according to cybersecurity company BioCatch. In the case of Same Day ACH in the U.S.,

Faster Payments 56

Faster Payments Business Email Compromise Treasury Real Time Payments 56

PYMNTS

MAY 3, 2017

NACHA may have assured some banks that Same Day ACH hasn’t led to an increase in payments fraud, but concerns remain widespread about how the initiative and other faster payments efforts will reduce the window of opportunity for FIs to detect and prevent an incident.

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Faster Payments B2B Email Compromise Same Day ACH 45

PYMNTS

APRIL 8, 2016

But that gives you the ability to innovate on top of it,” she said. Faster payments innovators. Three of those innovators were highlighted at 2016 PYMNTS Innovation Awards, and were recognized for being the “Best Innovation in ACH.” faster payments will be here before we know it. . In the U.S.

Faster Payments 40

Faster Payments ACH Network Same Day ACH ACH 40

PYMNTS

JANUARY 12, 2017

While providing a smoother and faster payment experience to customers through initiatives like Same Day ACH generates interest among merchants, their adoption is often difficult. Every time there’s an innovation that comes out, there has to be great care in the way it’s doled out,” said McShirley.

Faster Payments 41

Faster Payments Same Day ACH Payment Solutions ACH 41

PYMNTS

JANUARY 16, 2020

Open banking and its promise of more elasticity in finance is enabled by application program interfaces (APIs) — lines of code that execute everything from simple peer-to-peer (P2P) transfers to industrial-sized B2B real-time payments. That day is fast approaching, and all parties will need to be prepared.

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API B2B Payment APIs and Integration Cross-Border 53

PYMNTS

OCTOBER 28, 2016

Even those faster and same-day payment initiatives — like Same Day ACH — won’t be too helpful for suppliers looking to see their bills settled more quickly. For trade finance players, like NOWaccount, innovations in risk mitigation technology can help.

B2B 71

B2B Credit Cards Payments Same Day ACH 71

PYMNTS

OCTOBER 23, 2019

It’s the reason why paper checks remain a constant in B2B payments: Although businesses may not particularly like them, organizations already know how to send, receive and reconcile them. B2B innovators have a choice when they decide to search for a better way to move money between corporates. Work With What You’ve Got.

Faster Payments 40

Faster Payments B2B RTP ACH 40

PYMNTS

MAY 5, 2016

When The Clearing House (TCH), the payments firm owned by commercial banks, along with global software and services provider FIS, recently submitted their proposal to the Fed’s Faster Payments Task Force in order to evaluate their real-time payments system proposal, it signified a milestone along the path toward real-time payments.

Faster Payments 41

Faster Payments TCH Real Time Payments Payments 41