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NACHA’s launch of SameDayACH ushered in three settlement windows, enabling ACH payments to be received sameday. With SameDayACH now in play, Throckmorton said the focus will be on creating additional efficiencies now that money is being moved faster. via all banks and credit unions.
From innovations like the data-sharing of B2B APIs to the SameDayACHNetwork to blockchain innovations, the space is positioned to go in multiple directions as regulations and faster payments initiatives offer new opportunities in speed and efficiency. Enter the new PYMNTS.com B2B API Tracker™.
The latest data from Nacha found a new record-high growth rate for adoption of ACH payments , with B2B payments showcasing a surge in adoption of the legacy payment rail that has recently turned to technologies that can augment the service, from the movement of transaction data with an ACH payment to the deployment of SameDayACH.
Aside from using the blockchain, it will use Afinis interoperable and standardized APIs, as well as ISO 20022. Payments on the ACHNetwork reached a 12-year high in 2019, with 24.7 While RTP emerged as a new payment rail to address payment friction, NACHA’s SameDayACH is helping to accelerate the adoption of the rail.
Hence the recent announcement of the 2017 NACHA Payments Awards , which seeks to spotlight innovation and advancements in payments technology, which this time around was predicated on proven accomplishment in advancing electronic payments and finding new ways to leverage SameDayACH. can be reached.
The purpose of Capitol Hill Day is to provide updates and continued education to Congressional representatives and staff regarding the ACHNetwork, payments, and operating rules. Discussion topics on the Hill this year ranged from APIs and same-dayACH to bitcoin and banking marijuana sales.
. “On the government side, I feel they have been even more successful at implementing ACH, whether it be G2B or B2G payments,” than the private sector, he said. But as innovation targeting the ACHnetwork accelerates, there will continue to be challenges ahead for the public sectors.
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