Automated Clearing House

As the U.S. payments industry prepares to adopt real-time payments, supporters are readying their services. The latest entry is the duo of Fidelity National Information Services Inc. (FIS) and The Clearing House Payments Co. LLC, which announced Tuesday an incubator in which banks and credit unions can take their first …

Firms and financial institutions that have been using the automated clearing house network’s new same-day settlement system are generally upbeat about it, but the new regime is being implemented in phases, and the next phase, due in September, brings with it some misgivings. That’s when ACH debits will start to …

Automated clearing house volume grew by more than 1 billion transactions in 2016, ACH network governing body NACHA reported this week. Herndon, Va.-based NACHA says traffic on the network, which connects virtually all U.S. financial institutions, hit 25.6 billion transactions, up 5.3% from 2015. That grand total includes on-us transactions. …

• Mastercard Inc. said it will move to close its acquisition of VocaLink Holdings Ltd.“within the next few weeks” now that the transaction has been cleared by the United Kingdom’s Competition and Markets Authority. • USA Technologies Inc. said it is providing its contactless ePort Connect payment device for entertainment kiosks from Sneaker …

The subject of faster payments has been in the news almost continually for months now, but apparently awareness of the subject, and in some cases adoption, remains lower than expected among the financial institutions that will be depended on to implement speedier settlement. That’s if survey results released this week …

Nearly three-fourths of corporate treasury and finance executives say their organizations were hit by actual or attempted payment fraud in 2016, with check, automated clearing house debit, and email fraud attempts all rising, according to the Association for Financial Professionals’ ninth annual payments fraud survey. Some 74% of respondents said …

When the nation’s automated clearing house network introduced same-day settlement in September, it was only a matter of time before an application programming interface became available to simplify faster clearing. In March, that day arrived with Dwolla Inc.’s announcement that it was commercializing a same-day ACH API. The code, which …

Lately, the Federal Reserve Board has been shepherding a cross-industry effort to build a faster, more efficient, and more secure payments system in the United States. As that commendable effort heads into its home stretch, one big question stands out glaringly, but has largely gone unaddressed: How much influence should …

This article is the first installment of a three-part series this week on what the Federal Reserve’s Faster Payment Initiative means to the payment economy in the U.S., and how the payments ecosystem might get to “yes” on fixing what’s broken and deploying what’s possible. This part deals with the …

The name might evoke yawns, but the messaging standard known as ISO 20022 will be playing an increasingly important role in electronic payments in the future. The standard goes beyond bare-bones data related to a payment to facilitate the exchange of more information. The Federal Reserve Banks are encouraging more …