Automated Clearing House

Last year, the Federal Reserve set a goal of having ubiquitous faster payments available in the United States by 2020, and now the first estimates are emerging of just how much dollar volume will flow across systems already in place and in progress. The total will come to $650 billion …

Convenience-store operator Cumberland Farms Inc. updated its SmartPay Check-Link mobile app with biometric authentication and the ability to enroll in the program within the app, the Westborough, Mass.-based company announced Monday. The app, which launched in 2013, gives users a 10-cent discount per gallon of gas when they use it …

As the new year eases well into its second month, here are five important technology developments that will shake up key payments markets in 2018. B2B payments will finally go digital Perhaps further behind in the fintech curve than they should be are business-to-business payments. This is often attributed to …

Criminals target signature-based debit cards for fraud attempts far more than any other payment method, according to new findings from the Federal Reserve Bank of Minneapolis. The Minneapolis Fed’s survey last summer, which garnered responses from 283 banks and credit unions across the country, found that more than 90% of …

PayPal Holdings Inc.’s stock was trading down about 7.5% as of mid-morning Thursday, hours after an announcement from eBay Inc. that the big marketplace will shift transaction processing from long-time provider PayPal to Netherlands-based processor Adyen. EBay’s business accounts for about 13% of PayPal’s volume, a share PayPal said Thursday …

Same-day processing for both credits and debits on the automated clearing house network finished its first full quarter on Dec. 31, and numbers released Thursday show a solid increase in volume and dollars. In particular, same-day debits, introduced Sept. 15 , are growing fast and finished the final quarter accounting for …

As technology firms, both within financial services and those entering it, take larger shares of banking revenue streams and become more like banks, financial institutions will beef up their tech investments as they attempt to counter this pressure, advises Aite Group LLC in a report on 2018 financial-services trends. In …

The automated clearing house network’s nearly uninterrupted growth tear took a breather in the third quarter, the period leading up to the introduction of same-day processing for ACH debit transactions. ACH transactions totaled 5.3 billion in the July through September quarter, according to NACHA, the Herndon, Va.-based governing body for …

Boosted by e-commerce sales, growth in credit card payments far outpaced growth in debit card and automated clearing house payments in 2016, according to newly released findings from the Federal Reserve. Credit card transactions grew 10.2% from 2015’s levels to 37.3 billion and were valued at $3.27 trillion, the Fed …

Boosted by the addition of debit transactions Sept. 15, same-day automated clearing house transaction volume hit 10 million in October, up 140% from 4.1 million in August, according to ACH governing body NACHA. Total value of the October payments was $9.14 billion, Herndon, Va.-based NACHA reported last week. The value …