Remove ACH Remove Credit Push Remove Same Day ACH
article thumbnail

Breaking Down The Faster Payments Construct

PYMNTS

In just a matter of days, the payments industry will see a significant — and ubiquitous — change in the way payments are sent and received. Same Day ACH will create a new option for faster payments for all the banks and credit unions across the U.S. Both are about moving payments faster than they are today.”.

article thumbnail

Forty Is The New Faster (Payments)

PYMNTS

23) marks the launch of Same Day ACH, with three settlement windows enabling consumers and businesses to receive credit, same day, for payments made to them. is now capable of receiving and enabling this same-day capability. But in many ways, today’s milestone is all about what’s next for ACH.

article thumbnail

Past Lessons May Prove Invaluable For US Real-Time Payments Rollout

PYMNTS

One of the largest concerns regarding real-time payments is for the banks to be able to identify and mitigate a fraudulent transaction that is settled far more quickly than even same-day ACH payments today. Of course, real-time ACH payments and card payments are hardly birds of a feather. Luckily, U.S.

article thumbnail

What’s Fast And Slow And Read All Over?

PYMNTS

NACHA has implemented ubiquitous Same Day ACH with credit push and will implement phase two with debit pull in the fall. Two years later, faster really isn’t the driver of payments innovation today — making payments predictable, smarter, digital and efficient is.

Fed 47
article thumbnail

US Finds Its Faster Payments Future

PYMNTS

Same Day ACH, the faster payments initiative for banks and other financial institutions in the United States, seems to be popular. It needs to not be based on a debit pull, but instead, it’s a credit push transaction, so all transactions must be initiated by the sender.”. But the U.S.