Digital Transactions Authoritative, insightful and timely information for payments professionals
NACHA announced today it has approved a new form of electronic check conversion that will allow retailers to turn bundles of checks into automated clearing house debits in a central location, or back office. Known as back-office conversion, the new application will take effect March 16, 2007, the Herndon, Va.-based …
Read More »NACHA’s Web Payment Pilot to Start by Early ’07, Run 12 Months
NACHA's long-expected pilot project to test Internet payments to retailers and billers will get under way early next year and will run for 12 months, the Herndon, Va.-based organization said Monday. In a conference call it held to explain the new automated clearing house payment application and discuss the rationale …
Read More »NACHA’s New Web Product Could Unleash Strong Bank Competition
NACHA's proposed new product for Internet transactions, which it is proposing to test later this year (Digital Transactions News, March 15), could unleash powerful competitive forces among banks if it becomes a commercial payment application, an expert observer notes. Banks that choose to allow their customers to pay online merchants …
Read More »NACHA Starts Drive to Sign up Participants for Web-Payment Pilot
A recruitment effort began today to find banks, billers, and merchants to participate in a pilot of a new system by which consumers would be able to make payments on the Internet through the automated clearing house. Sponsored by NACHA, the Herndon, Va.-based organization that sets rules for the ACH, …
Read More »Back-Office Conversion To Get a Vote Soon, May Start in September
A new form of automated clearing house payment that merchants could use to convert checks into electronic funds transfers could become a reality by September. A proposal from NACHA for so-called back-office conversion, which would allow businesses to collect consumer checks from points of sale and convert them later on …
Read More »Early Signs Look Good for Back-Office Conversion in NACHA Comments
A proposal for a new payment application that would allow merchants to convert bundles of consumer checks to electronic transactions in a central location has received largely favorable comment from banks, merchants, and other industry participants. NACHA, the Herndon, Va.-based rules-setting organization for the automated clearing house, is reviewing written …
Read More »Seeking More Issuers, Debitman Finds Two Among the Supermarkets
Debitman Card Inc., which has been seeking issuers for its PIN debit processing network, announced two this week. Binghamton Giant Markets Inc. and HAC Inc., both regional supermarket chains, have agreed to issue cards on Debitman's network. HAC, which runs 67 stores in Oklahoma and Kansas, has begun issuing Debitman …
Read More »SMS-Based Promotions Fuel Grocer’s Interest in Cell-Phone Payments
Four months after introducing a marketing system that communicates with customers' mobile phones, Broadway Marketplace has had such positive sales results its top executive says the Cambridge, Mass.-based supermarket will add an electronic payment function within the next two months. The store, which last September began using a service called …
Read More »Settlement with NCR Positions DataTreasury to Move into ACH and Cards
With its settlement today with NCR Corp., DataTreasury Corp. will be able to tap technology that will allow it to move beyond check processing and into technology supporting automated clearing house and card transactions, the company's lead counsel says. The small Melville, N.Y. technology company, which had sued NCR early …
Read More »A Startup Readies a Payments Network Based on Driver’s Licenses
A startup company led by the former head of a processor of automated clearing house transactions is readying a network that will allow consumers to use their driver's licenses to pay for goods at the point of sale. Boulder, Colo.-based Combined Payments Network LLC plans to formally unveil its product, …
Read More »