PYMNTS

MAY 3, 2016

A survey published by financial security software firm NICE Actimize found that a whopping 93 percent of banks anticipate new fraud threats resulting from Same Day ACH. Same Day ACH is slated to see its first rollouts among U.S. We haven’t seen the first rollouts [of Same Day ACH] yet.

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PYMNTS

SEPTEMBER 15, 2017

In an interview with PYMNTS’ Karen Webster, Jane Larimer , chief operating officer at NACHA , said that the implementation of Phase 1 of Same Day ACH has gone smoothly, with a live debut last September. We’re seeing robust use of same-day ACH credits,” said Larimer.

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PYMNTS

JUNE 6, 2017

NACHA, with its Same Day ACH offering, is leading the charge for faster payments in the U.S., This is the number of Same Day ACH transactions that flowed over the ACH network since launch in September of 2016. How fast is fast enough? And how fast will people get used to fast — as in faster payments?

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PYMNTS

NOVEMBER 9, 2017

Fourteen months since the Phase 1 roll out, 43 percent of financial institutions (FIs) now allow businesses to originate same-day ACH credit. Fifty-five percent of these FIs see emergency payroll as a very or extremely important SDA credit use case, and 41 percent see loan payments as the top SDA debit use case.

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Same Day ACH ACH NACHA Origination 41

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. The payroll status quo has created cash flow challenges for many employees, particularly the estimated 60 percent of U.S.

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PYMNTS

SEPTEMBER 9, 2016

With the Same Day ACH rollout coming in just two weeks and other faster payments initiatives taking off, financial institutions are taking significant steps to ensure the transition to a faster processing environment, including improving their payment security platforms to keep fraudsters at bay. Impact On Same Day ACH Rollout.

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PYMNTS

NOVEMBER 22, 2016

And in the latest installment of Data Drivers, statistics show that the recently launched Same Day ACH initiative has got businesses, and consumers, moving to manage cash flow on a daily basis, across a variety of use cases. million and nearly half of all payments — came from direct deposit, or payroll, transactions.

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PYMNTS

MARCH 30, 2018

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 There is one exception to B2B payments’ aversion to speed: payroll. 1 request” for clients of payroll company Wagepoint, its CEO, Shrad Rao, told PYMNTS last year. “We

Payroll 53

Payroll Faster Payments Direct Deposit Same Day ACH 53

PYMNTS

SEPTEMBER 21, 2018

To that end, the the Internet Crime Complaint Center (IC3), a hub to bring complaints to the Federal Bureau of Investigation (FBI), is eyeing payroll fraud. With those credentials in hand, the cybercriminal can access payroll accounts and subsequently change bank account information. Across The Pond.

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Stax

MARCH 27, 2025

ACH Credit or direct deposit refers to when the payer pushes funds into the recipients bank account or credit union account. Businesses use this to set up automatic payments for payroll, regular vendor transactions, and bill payments. Wire transfers are processed within 24 hours to a few days.

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PYMNTS

JANUARY 7, 2020

Tribe Payments has announced that its new Bankbox service, which allows for direct integration into payment rails for payroll and accounts payable (AP), has been completely implemented by bulk payment company Telleroo, according to reports. The processes can be set in advance to ensure that payments are sent in time.

Payroll 52

Payroll Same Day ACH Fed RTP 52

PYMNTS

MAY 3, 2018

Payroll service provider Paychex is introducing a new subscription service aimed at enabling small businesses to ensure payroll is completed on time without the risk of bank account overdraft or insufficient fund charges. The feature does not interrupt payroll service, allowing companies to pay employees and remit taxes on time.

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Payroll Same Day ACH Small Business ACH 40

PYMNTS

JANUARY 15, 2018

6 percent: the portion of same-day ACH volume that constituted B2B payments during the first 11 days of NACHA’s launch of the service. Even more recent data from NACHA, released last week, said same-day ACH transactions accounted for $87.1

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PYMNTS

NOVEMBER 2, 2018

billion ACH debit and close to 2.3 billion ACH credit transactions made in the third quarter of this year. During the same period, direct deposit for payroll and other consumer disbursements represented the largest number of transactions at close to 1.7 billion ACH debit and close to 2.4 billion, which is a 3.7

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ACH Network ACH NACHA Same Day ACH 67

PYMNTS

OCTOBER 14, 2019

Payroll and human resource management solution provider Paychex has unveiled a range of new solutions and services at the 2019 HR Technology Conference & Exposition event late last month. The tool allows Paychex Flex Time users to clock in and out, take breaks and track meals through permission-based GPS location tracking.

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PYMNTS

SEPTEMBER 2, 2016

Not only are Same Day ACH payments on the way, but they are expected to have huge impacts on the way payments are made throughout the payments landscape. As we learned in last week’s installment of the Countdown to Same Day ACH podcast series, the first phase of the Same Day ACH initiative launches on Sept.

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PYMNTS

DECEMBER 13, 2017

In an age where faster is a hallmark of, well, everything, it follows that the same should be true of payments. Said Herd, additional findings reveal that there are some institutions that would like to offer Same Day ACH to their customers, but the processors or vendors that they rely on haven’t enabled it yet.

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Same Day ACH ACH NACHA Payroll 40

Payment Savvy

MAY 16, 2023

Some examples of direct deposits include government benefits, such as Social Security or unemployment benefits, tax refunds, and payroll payments from employers. 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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PYMNTS

NOVEMBER 16, 2016

The total value of those same day payments came to $4.9 In an interview with PYMNTS’ Karen Webster, Jan Estep, NACHA’s president and CEO, said that “we had a lot of questions right after [same day ACH payments] launched, asking us ‘what is the volume,’ and we felt it was a bit more responsible to wait for the first full month.”.

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PYMNTS

NOVEMBER 3, 2020

For instance, some FIs on the RTP network provided Paycheck Protection Program loan payments in real time, which helped struggling businesses meet payroll obligations to employees.

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PYMNTS

SEPTEMBER 26, 2016

In the context of the rollout of Same Day ACH, as well as new research that found companies have actually increased their use of the paper check in the last three years, the payment rail choice isn’t always easy. The data makes that glaringly clear. There’s a lot of friction between suppliers and customers.”

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PYMNTS

NOVEMBER 21, 2016

Same Day ACH payments are gaining traction right out of the gate, with nearly $5 billion and 3.8 And though the bulk of that took place though direct deposit activity (think payroll) and B2B transactions, P2P and consumer bill pay saw tens of thousands of payments. The numbers are in. And we see the waves coming.

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ACH Same Day ACH Online and Mobile Banking Payments 75

PYMNTS

APRIL 24, 2018

Today, this payroll schedule means an estimated 70 percent of employees in the U.S. live paycheck-to-paycheck – and many struggle to make necessary purchases or payments in the days leading up to payday. This is often discussed in the context of fixing payroll errors or sending last-minute funds to employees.

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Payroll Consumer Financial Protection Bureau (CFPB) Faster Payments Real Time Payments 43

PYMNTS

AUGUST 12, 2019

But for the Fed and its rails, they say, employees will be resigned to the bad old days of antiquated payroll systems that force them to live paycheck to paycheck, and at great financial risk. Employers schedule payroll a day or two in advance with their payroll providers so that employees can access and use those funds on payday.

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PYMNTS

OCTOBER 30, 2020

Corporate buyers that pay vendors, meanwhile, might seek to satisfy these business partners by delivering money via same-day ACH or over the RTP network. You can do standard ACH that’s free and it’s slow, or you can step up and go to same-day ACH or RTP,” she said. “It Accelerating Payroll.

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PYMNTS

FEBRUARY 21, 2017

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.

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Faster Payments Same Day ACH NACHA Credit Union 51

PYMNTS

APRIL 11, 2018

2017 marks another significant achievement in the evolution of the ACH Network, as transaction volume was exceptionally strong and Same Day ACH was made fully available,” said NACHA Chief Operating Officer and General Counsel Jane Larimer. percent increase in payroll and other consumer direct deposit transactions (6.5

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ACH Network ACH Same Day ACH Transactions 44

PYMNTS

AUGUST 24, 2016

From Same Day ACH to paycard controversies , a few recent news stories have placed payroll in center stage. Without near-real-time payroll tools, the wait for employees to actually see their earnings can be a challenge. Industry experts agree.

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Faster Payments Same Day ACH Payroll On-Demand 42

Clearly Payments

MAY 22, 2025

ACH (Automated Clearing House) The U.S. system for transferring funds between banks, used for payroll, bill payments, and more. Same Day ACH A faster version of ACH that settles payments the same business day. NACHA The organization that governs the ACH network in the U.S.

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PYMNTS

MARCH 18, 2019

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. Same Day ACH and the card rails – both of which allow for money to move fast into consumer and business bank accounts for every consumer with a debit product.

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Faster Payments Fed RTP Same Day ACH 80

PYMNTS

MARCH 9, 2020

A successful new rail] couldn’t just be something that’s a little faster than same-day ACH,” he explained. The growing demand for real-time employee expense reimbursement and instant payroll has surprised TCH, for example, but RTP’s flexibility means it can be leveraged for such purposes without any adjustments to the network.

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PYMNTS

MAY 4, 2016

Challenges and solutions continue to emerge surrounding NACHA’s recent move toward establishing Same Day ACH payments, which are due to arrive as soon as September 2016. 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

JULY 28, 2017

The good news is that Same Day ACH is on the way, but experts continue to discuss how the initiative will impact corporate payments, if at all. At the center of many of these discussions is the issue of ACH underwriting, which sees FIs establish how long it takes for funds to actually settle into an account.

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Same Day ACH ACH Underwriting Payments 41

PYMNTS

AUGUST 14, 2018

Nearly two years after its launch, Same Day ACH (SDA) credits are being used by nearly half of businesses and government agencies (that’s not bad for the only ubiquitous faster payments network in the U.S. The most popular use case — at least, so far — is payroll and emergency disbursements. Same Day ACH Users.

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PYMNTS

JULY 3, 2017

The day is an annual opportunity for NACHA to “showcase boots on the ground across the country” and to act as a thought leader in the payment space, he said. The ACH Network, conceived in the 1970s to replace paper checks for payroll, provides the backbone for the electronic movement of money and data in the U.S.,

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NACHA Faster Payments Same Day ACH ACH 45

PYMNTS

OCTOBER 29, 2020

They face an array of options to help them with their acceleration efforts, with some choosing to start delivering payroll via push-to-card offerings or directly into workers’ digital wallets, for example. Companies are working to accelerate their payroll and B2B transactions, but there is no single solution that fits all firms’ needs.

Faster Payments 43

Faster Payments Same Day ACH Real Time Payments Payroll 43

PYMNTS

JANUARY 15, 2018

Last June, NACHA and the Credit Research Foundation said that at present, paper checks make up half of B2B transactions received in the accounts receivable department; ACH accounts for less than a third. Further, in NACHA’s most recent update on same-day ACH volume – which found $87.1

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B2B Innovation Same Day ACH NACHA 55