Automated Clearing House

The formerly somnolent point-of-purchase (POP) electronic-check code continued on its newfound burst of energy in the third quarter, according to the latest automated clearing house volume report from NACHA?The Electronic Payments Association. NACHA reports POP volume hit 80.5 million transactions, up 92.8% from 41.8 million in the year-earlier quarter. POP's …

Mutual need brought Electronic Clearing House Inc. (ECHO) and Intuit Inc. together in the $142 million deal, announced last week, that will make Camarillo, Calif-based processor ECHO part of Intuit, Mountain View, Calif., some time in the first quarter (Digital Transactions News, Dec. 15). Intuit, marketer of the popular QuickBooks …

Online payments processor ClickandBuy this week announced what it calls “Version 2.0” of its digital-content platform, which includes an electronic wallet, long-awaited billing through two major U.S. phone companies, lower merchant pricing, and a new name, to boot. Parent company Firstgate Internet AG of Zug, Switzerland, has chucked the ampersand …

A new electronic check-conversion application set to go live in March at retail and other check-accepting businesses could become one of the fastest-growing products ever introduced for the automated clearing house (ACH) network, generating 425 million transactions in 2007, predicts a new study from Boston-based market researcher Celent LLC. The …

Checks cleared as electronic images continue to account for an increasing share of all image-based check traffic, even as an industry group works to hammer out a new system to accelerate the conversion to all-electronic check processing. Indeed, The Image Payments Network, an image-exchange network operated by The Clearing House …

Check processor Solutran Inc. thinks it has found a way to make the new back-office conversion (BOC) e-check code more attractive to merchants: take the costly scanning process out the back office and outsource it. Plymouth, Minn.-based Solutran recently announced its SPIN service, for Solutran POS and Imaging Network. The …

A banking group that is exploring how to merge electronic image exchange with the automated clearing house network expects to distribute a survey on Tuesday to financial institutions seeking to find out what their plans are for image exchange and what barriers are slowing down their movement toward receiving and …

It's not yet four months old, but already Google Inc.'s Checkout Internet payment service is making an impact, with 7% of online retailers surveyed in recent weeks by CyberSource Corp. having adopted it. That compares with 35% for PayPal, 24% for e-checks and other automated clearing house debits, and 16% …

Debitman Card Inc., the PIN-debit alternative network to the major card brands, on Monday signed on another issuer, and one of its top executives says more issuer announcements are coming. Getting retailers to issue as well as accept Debitman has been a major initiative for the San Mateo, Calif.-based company, …

The new president of Moneris Solutions Inc., the U.S. arm of Canada's leading merchant-acquiring operation, says he will diversify the company's distribution channels and at the same time seek profitable niches in a highly competitive industry. Buffalo Grove, Ill.-based Moneris currently derives most of its U.S. transactions from merchants booked …