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Same Day ACH: Impacts At The Intersections

PYMNTS

NACHA’s launch of Same Day ACH ushered in three settlement windows, enabling ACH payments to be received same day. “They are trying to maintain interoperability from a global perspective and also trying to achieve that standardization,” he explained. via all banks and credit unions.

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Solving for the Interoperability Challenge

Faster Payments Council

While we're well on our way to establishing a thriving faster payments ecosystem, we recognize we're still missing a key factor that can contribute to achieving ubiquitous faster payments: interoperability. 53% of respondents expressed the lack of interoperability as a key barrier to faster payments adoption.

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Breaking Down The Faster Payments Construct

PYMNTS

In just a matter of days, the payments industry will see a significant — and ubiquitous — change in the way payments are sent and received. Same Day ACH will create a new option for faster payments for all the banks and credit unions across the U.S. Both are about moving payments faster than they are today.”.

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New NACHA Hub Offers B2B Data Sharing

PYMNTS

George Throckmorton, NACHA managing director and executive director of Afinis Interoperability Standards, said using the conventional bilateral agreements for payment data sharing “limits broader industry adoption” and doesn’t meet expectations. NACHA also announced that Ernst & Young (EY) will assist in the development of Phixius. “EY

NACHA 52
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The Big Tech Canary In The Faster Payments Coal Mine

PYMNTS

where almost everyone is now banked) and made the case for why the Fed was positioned as the best player to operate a ubiquitous, interoperable real-time payments network – even though the Fed doesn’t have a great track record at payments innovation ( #killthecheck ). Here’s where the canary flew in. are moving faster than they ever have.

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What New Payment Rails Miss About Solving B2B’s Remittance Challenge

PYMNTS

The only way you’re going to be able to do that is by enabling seamless communications, integrations and interoperability,” said Jackman. This demand for the transmission of data along with payment has emerged as a focal point for the newest payment rails and services coming onto the scene, including Same Day ACH and SWIFT’s gpi.

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Third Parties Help Central Banks Ride RTP Rails

PYMNTS

In fact, the number of Same Day ACH transactions rose by 192 percent in Q3 2018 over the same period from the previous year. The industry’s issues include insufficient interoperability between schemes, as well as confusion and cost hurdles faced by financial institutions (FIs). Around The Faster Payments World.