Payments News
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Systems

Cash May Not Be King, but It’s Still Royalty

January 31 2020

“Yet digital’s gain isn’t necessarily coming at the expense of cash. The overall pie still appears to be growing. Only two countries, Russia and Sweden, had a net substitution of cards for cash from 2007 to 2016, with cash in circulation shrinking as card payments grew, according to the Bank for International Settlements. In other […]

On The Web

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Systems

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

May 14 2019

“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

The ACH Posts Its Highest Growth Rate Since 2008

July 15 2019

“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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Systems

It’s Official: Same-Day ACH Gets a Third Settlement Window, Effective March 2021

December 30 2019

“In a move that could have wide-ranging implications for a variety of payments, the Federal Reserve on Monday announced it will support a third settlement window each day for same-day automated clearing house transactions. The later settlement time, which ACH rule-making authority Nacha and a number of banks have long pushed for, will allow financial […]
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Reports

Same-Day ACH Traffic Reaches 1 Million Daily Payments, Nacha Reports

January 22 2020

“Faster payments on the nation’s automated clearing house network reached a milestone in the fourth quarter, with each business day recording at least 1 million same-day transactions for the first time since same-day service was introduced, according to data released Wednesday by Nacha, the governing body for the ACH. “We’re delighted to see the growing […]

On The Wires

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Systems

OnDeck Offers Same Day Funding To Empower Small Business

April 5 2019

“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 Introduces the Nacha Corporate Experience

May 7 2019

“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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Reports

ACH Network Annual Growth Rate Reaches 12-Year High

February 3 2020

“The ACH Network saw a remarkable year in 2019 as the annual growth rate reached a 12-year high. There were 24.7 billion payments on the ACH Network, an increase of 7.7% over 2018. The value of those payments was $55.8 trillion, up nearly 9% from 2018.”
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Systems

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

May 8 2019

“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.”