On The Web

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Systems

Same day ACH begins its 3rd phase

March 20 2018

• in
• ACH

“The 1st phase, which went into effect September 23, 2016 provided for end of day settlement of credit entries, also known as ACH push payments. The 2nd phase, which began September 15, 2017 provided for end of day settlement of debit entries, or ACH pull payments. The 3rd and final phase requires that a receiving RDFI must make funds […]

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Market Reports

Despite Its Sprawling Size, the ACH Has Been Racking up Impressive Growth

April 11 2018

• in
• ACH

“The nation’s automated clearing house network is on a tear. Transaction volume grew by 6.3% for the fourth quarter of 2017 and by 5.7% for the full year, according to numbers released late Tuesday by NACHA, the governing body for the ACH system. All told, the network handled $46.8 trillion in value for the year, […]

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Systems

CIBC removes mobile payment app from the Google Play Store

June 1 2017

• in
• ACH
• Bitcoin

Mobilesyrup - "You might have noticed that the CIBC mobile payment app has disappeared from the Google Play Store. The app allowed CIBC clients to tap their smartphones on a payment terminal whenever they want to make a purchase. According to a CIBC spokesperson, the reason the company got rid of its app was because of the popularity of Apple Pay and Samsung Pay."

On The Wires

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Systems

ACH Payments Are Moving and Growing Even Faster

November 13 2017

• in
• ACH

“Automated Clearing House (ACH) transfers have proven to be both easy and affordable methods of moving money. In addition to easy and affordable, they are now faster and more widely used by financial institutions (FIs) and their business and consumer customers. PYMNTS, in collaboration with NACHA – The Electronic Payments Association, developed the Same Day ACH […]

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Systems

Same Day ACH Payments Grew 51 Percent from November to December 2017 and Totaled More than 75 Million in 2017

January 11 2018

• in
• ACH

“Same Day ACH debit and credit transactions totaled 15.2 million in December, an increase of 51 percent over November’s volume, according to data released today by NACHA—The Electronic Payments Association®. The significant increase in Same Day ACH transactions from November to December is just the latest in a long line of indicators demonstrating the widespread […]

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Systems

NACHA’s API Standardization Industry Group Furthers Progress on Standardized API Development Efforts

April 9 2018

• in
• ACH

“The main goal of the latest meeting was to showcase progress on API use case efforts and confirm prioritization and refine requirements of the APIs. Announced late last year, the Group prioritized API: Account Validation, API: Get Account Balance/API: Get Account History, API: Get Bank Contact Information, API: Interoperability, and API: Transaction Status as the first […]

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Companies

ACH Network Volume and Value Hit New Highs in 2017

April 11 2018

• in
• ACH
• NACHA

“The ACH Network processed 21.5 billion transactions valued at more than $46.8 trillion in 2017, representing increases of 5.7 percent and 6.9 percent, respectively, over 2016, according to new data released by NACHA—The Electronic Payments Association®. It is the third year in a row in which the number of new ACH transactions increased by more […]

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Systems

ACI Worldwide Spotlights Real-Time Payments and Open Banking at NACHA PAYMENTS 2018

April 26 2018

• in
• ACH

“ACI Worldwide (NASDAQ: ACIW), a leading global provider of real time electronic payment and banking solutions, today announced its participation at NACHA PAYMENTS 2018, held April 29-May 2 in San Diego, Calif. ACI will showcase the latest in real-time, digital and open banking offerings at its booth (701). Additionally, ACI experts will participate in several speaking sessions throughout the […]