On The Web

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Glenbrook

Ubiquity, Same Day ACH and Other Fast Payments

April 19 2022

• in
• ACH

“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

March 18 2022

• in
• ACH

“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

March 11 2022

• in
• ACH

“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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Companies

Sila Now Provides Instant Access to ACH Debits on Its Platform Through Instant Settlement

April 18 2022

• in
• ACH

“Sila Inc., a fintech software platform that provides payment infrastructure as a service, today announced a new product called Instant Settlement. It provides instant access to ACH debits made to the Sila platform. Customers no longer have to use their own capital to pre-fund the full amount of a transaction or wait days for an […]

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Systems

Nacha Releases Top 50 Financial Institution ACH Originators and Receivers for 2021 | Nacha

April 5 2022

• in
• ACH

“Nacha’s Top 50 rankings of financial institution originators and receivers of ACH payments for 2021 are now available.  The Top 50 originating institutions saw total ACH volume of nearly 25 billion payments last year, an increase of 8.2% over 2020. They accounted for 92.1% of the ACH Network’s total commercial payments volume. The 2021 Top […]

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Systems

2021 ACH Volume on TCH’s EPN Outpaces Industry

March 7 2022

• in
• ACH

“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

Nacha Names Modern Treasury As a Preferred Partner for Payment Operations | Nacha

March 1 2022

• in
• ACH

“Today, Nacha announced it named Modern Treasury as a Preferred Partner for Payment Operations. In becoming a Preferred Partner, Modern Treasury joins a select group of creators and entrepreneurs that Nacha recognizes for offering products and services aligned with Nacha’s core strategies to advance the ACH Network.”

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Systems

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

February 15 2022

• in
• ACH

“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

February 14 2022

• in
• ACH
• ISO 20022

“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

February 7 2022

• in
• ACH

“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.”