Payments News

On The Web

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Deals

Trustly CEO Hints at Dual U.S. Listing After Stockholm IPO

“Trustly Group AB ’s plan to raise almost $1 billion through an initial public offering in Stockholm may be followed by a second listing in New York, according to its chief executive. Oscar Berglund, the CEO of the Swedish digital payment firm, says the U.S. is turning into its biggest growth market. For that reason, […]
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Deals

Orum Raises $21 Million To Speed Up Bank Payments From Five Days To One

“Kirkpatrick started Orum because so much money moves slowly, but some transactions settle quickly. Punch in your credit card online or swipe it at a store, and a retailer knows almost instantly whether it went through. Card networks are fast, but also expensive—retailers cough up 2% of their sales when they accept cards. By contrast, […]

On The Wires

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Systems

BillingPlatform and GoCardless Partner to Accelerate Quote-to-Cash Processes and Maximize Cash Flow

“BillingPlatform , the leading global cloud-based monetization and billing solution provider, and GoCardless , a global leader in bank-to-bank payments, today announced a partnership that combines innovative Payment Gateway Framework technology and enhanced ACH debit capabilities – helping to streamline the quote-to-cash processes for businesses so they can get paid more quickly and easily. By […]
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Systems

Square Brings New Payment Functionality and Cost Savings to Businesses Using Square Invoices

“Today, Square announced businesses can now accept Automated Clearing House (ACH) payments on Square Invoices, bringing convenience and payment flexibility to businesses and their customers alike. ACH payments are an electronic bank payment method that provide a simple and secure alternative to card networks. ACH payment acceptance is another way that Square is meeting the […]
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Systems

Same Day ACH Payment Limit to Increase to $1 Million | Nacha

“Same Day ACH payments will be further enhanced with a new $1 million per transaction limit. Nacha members approved a measure to increase the per-payment maximum from the current $100,000 to $1 million effective March 18, 2022. It will apply to all eligible Same Day ACH payments, including credits and debits for both businesses and […]
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Systems

The ACH Network Marks the Successful Expansion of Same Day ACH | Nacha

“Nacha, The Clearing House and The Federal Reserve—collectively comprising the infrastructure of the ACH Network—announce the successful expansion of Same Day ACH. On March 19, 2021, the operating hours of Same Day ACH were extended through the establishment of a third daily opportunity to clear and settle Same Day ACH payments. Now, Same Day ACH […]
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Systems

Class Action Alleges Bank of America Tricks Accountholders Into Paying Fees for ‘Free’ ACH Transfer Service

“A proposed class action alleges Bank of America (BofA) has misled accountholders into paying automated clearinghouse (ACH) transfer fees for a service that’s otherwise free when sending money to authorized payees.  The 19-page lawsuit claims Bank of America has exploited its informational advantage as a major financial institution and consumers’ unsophistication with regard to complicated […]
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Domains

ACH Network Prepared to Deliver Economic Impact Payments to Americans Via Direct Deposit | Nacha

“President Biden has signed into law the American Rescue Plan Act, which provides for direct payments to many Americans. These payments will largely be delivered electronically by Direct Deposit over the ACH Network. Following is a statement from Jane Larimer, President and CEO of Nacha, the organization that governs the ACH Network. “Passage of the […]