Payments News

On The Web

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Systems

UK begins roll out of cheque imaging

“The UK is beginning the phased roll out an image-based cheque clearing system that will slash processing times from six ‘weekdays’ to one day and pave the way for the introduction of interbank mobile cheque deposits. Although cheque usage is in decline, 477 million were written in 2016. Previous attempts to abolish cheques caused political […]
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Systems

Cheques to be excluded from UK’s New Payments Architecture

“Once again cheques in the UK are facing their demise, this time as a consequence of their being excluded from the New Payments Architecture project, or “NPA”. This time it will be a slow and lingering death over a 10-15 year period, as investment is channeled into other services and the cheque service withers on […]
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On The Wires

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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.”
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Risk & Fraud

VSoft Launches OnView Positive Pay

“According to the Association for Financial Professionals’ 2017 Payments Fraud and Control Survey report, 75 percent of organizations experienced check fraud in 2016, which is an increase from 71 percent in 2015. OnView Positive Pay can significantly enhance an institution’s cash management technology portfolio, and by offering this intuitive application to business account holders, institutions can create […]