Automated Clearing House

Often viewed by retail banking officials as public enemy No. 1, PayPal Inc. sent its top executive to a major banking-technology exhibition on Thursday to propose closer collaboration between banks and the San Jose, Calif.-based non-bank e-commerce payments processor. Indeed, PayPal president Scott Thompson suggested banks and PayPal create direct …

In what it calls a first for a major oil company, the U.S. subsidiary of Royal Dutch Shell plc in January plans to offer a PIN-based consumer debit card that uses the automated clearing house network, gives consumers a discount on gas, and costs Shell's retail outlets 40 cents per …

Retail sales are slumping and stores are closing, but the online retailing channel?and thereby online payment transaction volumes?will come through relatively unscathed, according to a new report from Javelin Strategy and Research. Javelin's latest online retail payments forecast predicts Internet retail purchases will total $148 billion this year, up 10.4% …

With the exception of the new back-office conversion application, or BOC, growth rates for the automated clearing house's electronic-check codes for transactions originating with paper checks declined in the third quarter. Those numbers might indicate one-time or seasonal blips, especially with the weakening economy, but they could also show that …

With interest in so-called alternative-payments providers running high among merchants and consumers, Moneta Corp. recently announced a new management team and this week unveiled a strategy for capturing online transaction share from both bank cards and other alternative players. Speaking to Digital Transactions News, Guido Sacchi, the Atlanta-based company's newly …

While formal bank recruitment hasn't started yet, an 18-month pilot to test the idea of transmitting check data as automated clearing house files is likely to get under way no sooner than the middle of next year, says a senior executive at NACHA, which is sponsoring the project. “[That] would …

An electronic bill-presentment and ?payment system that uses the automated clearing house network picked up some momentum recently with the addition of a second participating bank to its pilot program and could gain more as processors serving thousands of banks start linking to the system. Dollar Bank, a Pittsburgh-based thrift, …

After years of torrid growth, the automated clearing house's electronic-check code for lockbox payments has seen its expansion slow almost to a halt. The second-quarter numbers in the accounts-receivable conversion (ARC) standard entry class (SEC) could be just a blip, or they may reflect a permanent shift toward non-paper bill …

An international organization set up to promote the concept of allowing consumers to pay online merchants via Web-based banking programs plans to have a structure in place by the third quarter next year to traffic the first payments across borders. The International Council of Payment Network Operators, established earlier this …

In the 18 months since NACHA introduced an electronic payment method that lets merchants convert bundles of checks in a central location, it's become clear that the method?known as back-office conversion (BOC)?isn't likely to have a big impact on retailers' paper-check volumes. That's according to Bob Meara, a senior analyst …