Payments News

On The Web

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Glenbrook

Ubiquity, Same Day ACH and Other Fast Payments

“It’s truly remarkable how this decades-old, ANSI based, batch based payment method is slowly but surely finding renewed vigor in today’s world of “fast payments.”  Clients at Glenbrook continue to inquire about how ACH can be leveraged for their needs and a key reason is that it’s a ubiquitous payment network where every financial institution […]
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Systems

NACHA Expands Same-Day ACH Limit to $1M

“NACHA today increased the dollar limit for same-day ACH transactions from $100,000 to $1 million. The change was executed in collaboration with the Federal Reserve and The Clearing House, the network’s two ACH operators.”
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Systems

BofA Brings Positive Pay to Its CashPro App As Same-Day ACH Builds Momentum

“With momentum accelerating behind faster payments on the automated clearing house, fraud prevention is taking on a higher profile at the nation’s banks. In the latest move, Bank of America Corp. on Thursday introduced ACH Positive Pay on its CashPro mobile app. The move will let app users review and then approve or reject transaction […]

On The Wires

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Systems

2021 ACH Volume on TCH’s EPN Outpaces Industry

“Transaction volume on EPN, the ACH network from The Clearing House, increased 9.6% in 2021, outpacing the broader ACH market as financial institution customers continued the shift to electronic payments that accelerated during the pandemic. Overall, 2021 U.S. ACH network volume increased 8.7%1 as business and consumers switched to electronic payments. During that time, EPN carried […]
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Systems

Marqeta Partners With Plaid, Bringing Together Seamless ACH Payments With the Power of Modern Card Issuing

“Marqeta (NASDAQ: MQ), the global modern card issuing platform, today announced a partnership with Plaid, a data network that powers the tools millions of people rely on to live healthier financial lives, to simplify ACH transfers, enabling customers to seamlessly and securely authenticate their bank accounts and fund their accounts to power more immediate spending.”
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Standards

Nacha Announces Updates to ISO 20022-to-ACH Mapping Guide & Tool | Nacha

“Today, Nacha announced updates to its ISO 20022-to-ACH Mapping Guide & Tool , which provides background, explanation and examples as well as detailed data mapping between the ISO 20022 messages and the corresponding ACH transactions. These updates include revisions to align with recent Nacha Rules changes, including the expansion of Same Day ACH, changes to […]
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Systems

Nacha Adds Webster Bank As a Direct Member | Nacha

“Nacha announced today the addition of Webster Bank as a Nacha Direct Member. Nacha has more than 40 Direct Members, consisting of financial institutions and Payments Associations (PAs) that collectively represent nearly all financial institutions across the United States.”