Payments News

On The Web

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Systems

The ACH Posts Its Highest Growth Rate Since 2008

“The nation’s automated clearing house network went on a tear in the quarter ended June 30, notching its highest growth rate since 2008 thanks to double-digit growth for key categories like Internet payments and business-to-business transfers. Total volume for the quarter came to 6.1 billion transactions, an increase of 7.7% from the same three months […]
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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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Systems

NACHA & Faster Payments Council Developing ‘Faster Payments Playbook’ | Credit Union Times

“NACHA’s Payments Innovation Alliance and the U.S. Faster Payments Council (FPC) have launched a partnership to develop an “educational and online decisioning platform” called the Faster Payments Playbook. Its objective is to help credit unions and other payments organizations create their own faster payments strategies by addressing developments in faster payments and identifying opportunities for […]
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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 […]

On The Wires

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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 […]
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Systems

Nacha’s Payments Innovation Alliance and the U.S. Faster Payments Council Collaborate to Develop the Faster Payments Playbook

“Today, Nacha and its Payments Innovation Alliance, jointly with the U.S. Faster Payments Council, are announcing a collaboration to further develop the Faster Payments Playbook, an educational and online decisioning platform that will help banks, credit unions and businesses develop a faster payments strategy – from concept to reality.”
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Systems

Nacha Introduces the Nacha Corporate Experience

“The Nacha Corporate Experience is comprised of different solutions that when used together improve the end-to-end electronic payment and remittance process for businesses-to-business payments. Currently, the Nacha Corporate Experience includes the Business Payments Federated Directory, which leverages blockchain technology to address supplier onboarding challenges. Through the Directory, businesses can obtain, maintain and exchange accurate and […]
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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.”