Automated Clearing House

The Federal Reserve issued a report on Wednesday that indicates the nation’s central bank could play a much more active role in faster payments than many have expected, up to and including providing alternative processing services. Up to now, the Fed has limited its role to sponsoring working groups that …

So far, most observers would agree same-day ACH credit processing, introduced nearly a year ago on the nation’s automated clearing house network, has been a success. Users appear to be satisfied with the service, and risk appears to be under control, observers say, despite the shorter windows for fraud detection. …

So-called native automated clearing house payments that originate electronically rather than by conversion of a paper check continued their robust growth in the second quarter while same-day ACH transaction volume hit $16.6 billion, reports ACH governing body NACHA—The Electronic Payments Association.  In total, the ACH network transferred 5.35 billion payments, …

Now that the Federal Reserve-sponsored Faster Payments Task Force has issued its final report calling for speedier payments everywhere in the United States by 2020, the really hard work can now begin, say some observers. Payments cleared and settled in near real time has long been a goal of many …

As the nation’s automated clearing house network gears up to introduce same-day debits in September, observers are warning that faster processing is likely to open the door to more fraud unless businesses and financial institutions adopt new policies. Some caution the ACH network’s experience so far with same-day credits, which …

Checks currently account for almost half of business-to-business payments, but their share will decline to 34% by 2020 as automated clearing house payments surge from 32% of B2B payments today to 45% in three years. Those are some of the key results from a first-quarter survey by the Credit Research Foundation, …

As the nation’s automated clearing house network introduces faster payments, it’s also racking up steady increases in transaction volume. The system processed approximately 5.35 billion payments in the first quarter, notching nearly 7% growth over the first quarter of last year and rebounding smartly from a tepid 3.7% growth rate …

A recent report from the U.S. Department of The Treasury’s Financial Crimes Enforcement Network (FinCEN) shows a sizable increase in the number of banks and credit unions providing financial services to legal marijuana businesses. The numbers might not tell the whole story, however. FinCEN’s latest Marijuana Banking Update, for the …

By Kevin Woodward@DTPaymentNews Apple Inc. is sponsoring its first known offers promotion for Apple Pay users with deals available June 23-25 in two San Francisco neighborhoods. Dubbed “Lose your wallet” on Apple’s Web site, the promotion includes a percentage off the purchase or a free item with a purchase. The …

As the U.S. payments system collectively ambles toward real-time payments, proponents will have to ensure its benefits outweigh those of existing expedited payments options. That’s one recommendation from the “Justifying Real-Time Payments in the United States” report released Tuesday by Maynard, Mass.-based Mercator Advisory Group Inc. The report examines the …