Electronic Checks

A platform to help ensure payments are made to the proper entity is preparing for a May debut. Dubbed Phixius, the Nacha-developed platform will provide a way to enable the secure sharing of payment-related information. That’s important because the platform, announced this week, could save businesses time in vetting new …

Small businesses using Square Inc. will be able to use turnkey UPS shipping services integrated into Square Online Store, the acquirer’s e-commerce platform, UPS announced. The Square-UPS deal includes special shipping rates that could be up to 55% off UPS daily rates.Amazon.com Inc. reported it now has more than 150 million Prime members …

Mobile remote deposit capture has made big gains in recent years, but there’s still room to improve the service, according to new survey findings. Deficiencies in financial institutions’ mobile-capture offerings include error identification and tracking, unclear notices of funds availability, and overly restrictive risk-control policies, according to Ron Shevlin, director …

The Clearing House Payments Co. LLC, operator of the Real Time Payments network, said Thursday that it will raise the RTP transaction limit from the current $25,000 to $100,000 effective Feb. 1. Steve Ledford, TCH senior vice president of product strategy and development, tells Digital Transactions News the limit is …

Faster payments on the nation’s automated clearing house network reached a milestone in the fourth quarter, with each business day recording at least 1 million same-day transactions for the first time since same-day service was introduced, according to data released Wednesday by Nacha, the governing body for the ACH. “We’re …

Insurer and financial-services provider United Services Automobile Association on Wednesday asked a federal court to dismiss a request by mobile remote deposit capture technology developer Mitek Systems Inc. for a declaratory judgment that Mitek’s technology does not infringe on four USAA patents. San Antonio, Texas-based USAA’s dismissal request came less …

It’s no secret that electronic payment methods have systematically eaten away at check volume in the United States, but now new data from the Federal Reserve shows just how far that trend has gone.  A total of 16 billion checks were written in 2018 for a total value of $26.2 …

In a move that could have wide-ranging implications for a variety of payments, the Federal Reserve on Monday announced it will support a third settlement window each day for same-day automated clearing house transactions. The later settlement time, which ACH rule-making authority Nacha and a number of banks have long …

The growing popularity of debit cards and the displacement of cash by card and electronic payment alternatives is nothing new, but a Federal Reserve banks’ report released Thursday shows debit cards for the first time have surpassed cash as the most-used payment type. The findings come from the 2018 Diary …

Chargebacks911, a dispute-mitigation and risk-management provider, said Santa Barbara, Calif., has the highest rate of fraudulent credit card chargebacks at 6.79%, followed by Paradise Valley, Ariz., 6.73%, and La Mirada, Calif., 6.68%. Other top 10 cites are listed in the company’s chargeback study, the second since 2014.Mobile-shopping and -payments app …