Automated Clearing House

With the 2009 holiday shopping season all but over except for some post-Christmas bargain hunting, several payments indicators show that merchant acquirers are processing more transactions than many observers expected when the season began nearly two months ago. Online shopping tracked by Chase Paymentech Solutions LLC, the nation's largest e-commerce …

Alternative-payments processor Moneta Inc. announced this week it will start offering so-called transactional credit to its users at the end of the first quarter. The credit feature, which the Atlanta-based company is adding to an online wallet that currently relies on automated clearing house debits from users' checking accounts, could …

A plan by the Federal Reserve to speed up certain automated clearing house transactions so they will clear on the same day they are initiated is “attracting interest” from financial institutions that use the Fed to handle their ACH traffic, says Richard Oliver, an executive vice president at the Federal …

Paper-based bill payments continued their decline in the third quarter while Internet bill payments gained more ground, according to the latest automated clearing house data. The accounts receivable conversion (ARC) code for paper checks sent to billers' lockboxes and then converted into electronic checks had 583.8 million transactions in the …

The first statistics about the new automated clearing house code for international transactions are in, though it's too soon to draw conclusions about how popular the so-called IAT code will become. According to NACHA, governing body of the ACH, IAT had 303,802 transactions in September with a total value of …

Secure Vault Payments, an online-payments program that lets consumers pay merchants from their checking accounts via the automated clearing house network, is catching on as a way to pay tuition and other costs at the University of Georgia, which began using the method in July in time for fall-semester tuition …

Although implementation of the Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA) begins Tuesday, the U.S. House Committee on Financial Services next week will hold a hearing on two bills that would replace or set a new date for implementation of the controversial gambling legislation. A hearing on the new …

Losses caused by massive fraud could bring down as many as 10 financial institutions within the next three years, predict analysts at Treasury Strategies Inc., a Chicago-based consultancy specializing in financial services. Since bank failures are usually caused by economic downturns or mismanagement, the prediction comes as a startling reminder …

Making good on a promise last spring that new developments were in the works, specialty debit processor Tempo Payments Inc. on Monday unveiled a new software-as-a-service platform and three MasterCard-branded decoupled debit card programs. Issued by First Bank & Trust, the cards are the first Tempo-affiliated cards issued by a …

Amazon.com Inc. added more territory to its steadily expanding payments empire on Monday when it unveiled a mobile version of its payments service for third-party software developers, merchants, and distributors of mobile applications. Dubbed Amazon Mobile Payments Service, the system includes Amazon's so-called “1 Click” checkout service, which enables users …