Electronic Checks

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 …

U.S. Rep. Chuy Garcia (D-Ill.) planned this week to introduce bills that would bar tech firms from developing their own cryptocurrencies and make it more difficult for non-financial firms to obtain charters for industrial-loan corporations, a form of a bank, according to Politico. Garcia’s office did not immediately respond to a request …

Unattended-payments specialist USA Technologies Inc. held its first quarterly earnings call in more than a year following the resolution of accounting issues. In it, USAT reported first quarter fiscal 2020 revenue of $42.1 million, a 25.7% increase from $33.5 million a year ago. Its net loss for the quarter was $12.8 million, …

With same-day transaction growth sizzling, the automated clearing house network overall notched another quarter of robust growth. The system logged 6.2 billion transactions in the quarter ended Sept. 30, up 9.5% over the third quarter of 2018, according to figures released Tuesday by Nacha, the network’s governing body. Total payment …

Corporate treasurers can identify numerous use cases for real-time or otherwise faster payments, but they do worry about transaction security, according to the Association for Financial Professionals. Some 60% of respondents surveyed in the AFP’s newly released 2019 payments study said business-to-business transactions will benefit the most from faster and …

The nation’s automated clearing house network went on a tear in the quarter ended June 30, notching its highest growth rate since 2008 thanks to double-digit growth for key categories like Internet payments and business-to-business transfers. Total volume for the quarter came to 6.1 billion transactions, an increase of 7.7% …

A federal judge has ordered the two main perpetrators of what the Federal Trade Commission calls the “massive Pointbreak Media robocall scheme,” part of which involved remotely created checks, to pay $3.37 million to the FTC, the agency announced this week. U.S. District Court Judge Cecilia M. Altonaga in Miami …

NACHA said automated clearing house volume in the first quarter totaled 6 billion payments that included 3.5 billion debit transactions and 2.5 billion credit transactions. Internet-initiated payments increased 10.3% to 1.6 billion. Same-day ACH transactions totaled 52.7 million, up 24% from a year prior. NACHA also launched the NACHA Corporate …

Will it or won’t it? Those eagerly awaiting word about whether the Federal Reserve will directly operate a real-time gross settlement system will have to wait a bit longer. The Fed last October said it was considering whether to directly develop and operate a RTGS system as an outgrowth of …

Long-time NACHA president and chief executive Jan Estep will cede that role July 1 to chief operating officer Jane Larimer, the organization announced Monday. Estep will formally retire at the end of the year, NACHA said, following a confidential process she set in motion late in 2018 with NACHA’s board …