Payments News

On The Web

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Systems

As Transaction Volume Grows, NACHA Smooths out the Road for Same-Day ACH

“Effective March 20, 2020, the dollar limit on same-day transactions will quadruple from $25,000 to $100,000, NACHA announced. This change will be especially important to institutions looking to handle more business-to-business payments, many of which were ruled out by the existing cap. “We’ve been hearing from end-users,” Jane Larimer, chief operating officer at Herndon, Va.-based NACHA, tells Digital […]
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Systems

Same-Day Transaction Boom Helps Propel the ACH to a $51 Trillion Year

“Same-day automated clearing house transactions more than doubled in 2018 and the value of those payments increased 83% in the first full year of same-day ACH debit service, NACHA reported Tuesday. The same-day volumes helped the sprawling ACH network continue its growth streak, with total payments up nearly 7% and the value of those payments […]
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Reports

Same-Day and P2P Volumes Boom on the ACH While Back-Office Conversions Stage a Comeback

“The big ACH news for the past couple of years has been same-day transactions, which promise to meet demand for faster clearing and settlement, and help the network meet growing competition from financial-technology companies. Same-day ACH transactions—credits and debits combined—grew 46% year-over-year to 51.3 million from 35.2 million in 2017’s last quarter, Herndon, Va.-based NACHA reported this week. Growing slightly […]
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On The Wires

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Systems

Digital Check Push Payments Via Push-to-Card

“Checkbook Inc. today announced the launch of Instant Pay. Businesses can push money instantly into millions of individual and business bank accounts without collecting sensitive routing or account information. There is no need for recipients to sign up for any service or download any app.”
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Systems

ACH Network Payment Volume Increases More Than Six Percent In Second Quarter Of 2018

“ACH debit and credit transactions totaled more than 5.7 billion in the second quarter of 2018, a 6.2 percent increase when compared to Q2 2017, according to NACHA—The Electronic Payments Association. This percentage increase represents one of the highest growth rates since 2008. The strong quarterly performance demonstrates that ACH payments, including Same Day ACH […]
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Systems

NACHA Reports Strong ACH Volume Growth of Nearly 7 Percent in Q3 2018

“The number of ACH payments totaled more than 5.6 billion in the third quarter of 2018, a 6.7 percent increase over Q3 2017, according to NACHA. The ACH Network’s strong performance is driven in large part by online and business-to-business (B2B) payments. More than 3.3 billion ACH debit and nearly 2.3 billion ACH credit payments were […]
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Systems

OnDeck Offers Same Day Funding To Empower Small Business

“OnDeck (NYSE: ONDK ), the leader in online lending to small business, today announced that it will offer to fund and debit customer bank accounts with Same Day ACH transfers, eliminating a decades long pain point for small business owners accustomed to the traditional ACH transfer process, which can take multiple days and lacks certainty […]