The movement from paper-based to electronic payment is happening even faster than the Federal Reserve expected, and as a result the central bank is cutting its estimate of check volume while raising its check-processing fees. Effective Jan. 2, the Fed's fees for check services will go up by a blended …

Bank of America Corp. took in far and away more ACH payments last year than any other receiving institution, according to statistics released today by the National Automated Clearing House Association (NACHA). The association's first annual ranking of receiving institutions shows BofA, headquartered in Charlotte, N.C., in first place for …

A technology firm is rolling out an Internet-based debit-card shopping program that relies on merchants to foot the cost of card readers. The program developed by Atlanta-based Kryptosima, a subsidiary of InstaPay Systems, will start with the Armed Forces Financial Network (AFFN) electronic funds transfer network and several large online …

For years, retailers have sought ways to allow their customers to pay electronically while bypassing bank networks and fees. Now some fast-food franchisees are turning to proprietary smart cards–with or without interest from their corporate parents. Los Angeles-based TranStar Systems Inc. has either installed or has orders for systems in …