Payments News

On The Web

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Systems

Same day ACH begins its 3rd phase

“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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Reports

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

“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

As Transaction Volume Grows, NACHA Smooths out the Road for Same-Day ACH

“Effective March 20, 2020, the dollar limit on same-day transactions will quadruple from $25,000 to $100,000, NACHA announced. This change will be especially important to institutions looking to handle more business-to-business payments, many of which were ruled out by the existing cap. “We’ve been hearing from end-users,” Jane Larimer, chief operating officer at Herndon, Va.-based NACHA, tells Digital […]

On The Wires

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Systems

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

“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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Systems

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

“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

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

“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 […]
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Systems

ACH Network Payment Volume Increases More Than Six Percent In Second Quarter Of 2018

“ACH debit and credit transactions totaled more than 5.7 billion in the second quarter of 2018, a 6.2 percent increase when compared to Q2 2017, according to NACHA—The Electronic Payments Association. This percentage increase represents one of the highest growth rates since 2008. The strong quarterly performance demonstrates that ACH payments, including Same Day ACH […]
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Companies

ACH Network Volume and Value Hit New Highs in 2017

“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 […]