Payments News

On The Web

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Domains

Why Can’t Stimulus Checks Arrive Faster?

“In April 2020, the Treasury Department made the first pandemic-related stimulus payments within weeks of the bill being signed into law, instead of months, like similar payments in 2008. By the third round of payments in March 2021, the first wave of money landed in bank accounts within a week of the bill becoming law. […]
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As the ACH Network Readies for Covid Relief, Payments Groups Seek to Correct the Record on Funding Date

“In response to erroneous reports about funds availability, The Clearing House Payments Co., Nacha, and seven other banking and payments groups said Tuesday that Economic Impact Payments from the federal government will start to become available to recipients Wednesday morning. A statement from the nine groups, plus a separate statement from Nacha , the governing […]
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Domains

Saved Stimulus Checks Expected to Help Spur Economic Recovery

“Many U.S. consumers are starting 2021 flush with savings likely to help fuel the economic recovery this year. The latest federal Covid-19 aid package sent $600 checks to many households that also received relief money last year, while more affluent households have built up pools of cash by curbing their spending during the pandemic.”

On The Wires

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Domains

MetaBank® Serves As Agent for Distributing Prepaid Debit Cards As Part of Economic Impact Program

“Meta Financial Group, Inc.® (Nasdaq: CASH) (the “Company”) today announced that MetaBank®, N.A. (“MetaBank” or the “Bank”), a wholly-owned subsidiary of the Company, has again been asked to disburse Economic Impact Payments (“EIP”) through the distribution of prepaid debit cards under a program authorized by the U.S. Congress through the American Rescue Plan Act of 2021 […]
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Companies

Mastercard Working With Liberty Tax to Provide Access to Economic Impact Payments and Tax Return Funds

“As Americans in need begin receiving Economic Impact Payments (EIP) via the U.S. Department of Treasury and Internal Revenue Service (IRS), Mastercard is working with Liberty Tax to offer direct stimulus payments and tax return funds through prepaid cardholder accounts, in turn improving equitable access to those who need it most. Qualifying new Liberty Tax […]
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Domains

ACH Network Prepared to Deliver Economic Impact Payments to Americans Via Direct Deposit | Nacha

“President Biden has signed into law the American Rescue Plan Act, which provides for direct payments to many Americans. These payments will largely be delivered electronically by Direct Deposit over the ACH Network. Following is a statement from Jane Larimer, President and CEO of Nacha, the organization that governs the ACH Network. “Passage of the […]
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Domains

BJ’s Wholesale Club Adds Online EBT Payment Option for In-Club Pickup and Curbside Pickup Orders in Select States

“BJ’s Wholesale Club (NYSE: BJ), a leading operator of membership warehouse clubs in the Eastern United States, announced that it now accepts EBT payments for SNAP eligible items on BJs.com for in-club pickup and curbside pickup orders in Florida and North Carolina. BJ’s members in these states can now seamlessly shop for their groceries on […]
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Domains

Treasury Is Delivering Millions of Economic Impact Payments by Prepaid Debit Card | U.S. Department of the Treasury

“This week, Treasury and the IRS started to send approximately 8 million Economic Impact Payments (EIPs) by prepaid debit card. The distribution of EIP Cards follows the millions of payments already made by direct deposit and the ongoing mailing of paper checks and are part of Treasury’s and is IRS’s plan to deliver Economic Impact […]