PYMNTS

SEPTEMBER 15, 2017

In an interview with PYMNTS’ Karen Webster, Jane Larimer , chief operating officer at NACHA , said that the implementation of Phase 1 of Same Day ACH has gone smoothly, with a live debut last September. We’re seeing robust use of same-day ACH credits,” said Larimer. That assertion is backed up by the numbers.

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Payment Savvy

FEBRUARY 23, 2023

If you are using the Automated Clearing House (ACH) method to process customers’ transactions, you are likely to see three-digit codes if a problem arises. What Are ACH returns? Automated Clearing House (ACH) payments are electronic payment processing carried out between two financial institutions (e.g.,

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Nanonets

SEPTEMBER 8, 2023

Ach and Wire are two of the most popular ways of money transfer in the United States. First, let's delve into the mechanics of ACH and Wire transfers, followed by an exploration of their distinctions, guidance tailored for small businesses, and concluding with instructions on establishing ACH and Wire processes.

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PYMNTS

DECEMBER 13, 2017

It has been 14 months since the first phase of Same Day ACH credits debuted, and in numbers via a joint study by PYMNTS and NACHA, business origination of Same Day ACH credit has been significant, with clear trends in place that show healthy use and demand. For some firms, Same Day ACH remains a matter of prioritization.

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PYMNTS

SEPTEMBER 7, 2017

payment system has embarked on the financial equivalent of a film trilogy with its Same Day ACH initiative, an initiative which will bring big changes to the ACH Network. In anticipation of the rollout of Same Day ACH Phase 1, Steele said the financial services industry treated the change as a “Y2K-type” event.

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PYMNTS

NOVEMBER 9, 2017

Fourteen months since the Phase 1 roll out, 43 percent of financial institutions (FIs) now allow businesses to originate same-day ACH credit. However, 25 percent of FIs still do not offer SDA origination to business customers, given the lack of support from core processors and software providers, who have yet to make these features available.

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PYMNTS

APRIL 6, 2017

Phase One of the Same Day ACH rollout that made credit transfers a reality was completed last year. The third phase, which will usher in faster ACH credit funds availability, is on track to occur in March 2018. And it’s only getting started.

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Fintech Finance

JULY 24, 2024

With experience and focus on innovative payment services across Real-Time Payments (RTP® and FedNow®), ACH, card solutions and alternative payment rails, Carl is well-positioned to support the FPC’s continued growth and innovation in faster payments.

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Faster Payments FPC FedNow RTP 97

PYMNTS

SEPTEMBER 15, 2020

Interchecks Co-founder and CEO Dylan Massey said in a statement that the company "started with a commitment to offset wire and ACH payments with Visa Direct in an effort to speed-up funds availability, and the project grew from there."

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PYMNTS

JUNE 25, 2020

“Sending out a check requires policyholders to wait for a week, sometimes longer, to get much-needed funds after an accident or crisis. We have been working closely with large P&C insurance carriers to uniquely meet their needs and [those of] their policyholders,” Reuter said. “The billion profit.

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Checks B2B Digital Payments Innovation 100

PYMNTS

NOVEMBER 10, 2017

Same-day ACH: Some encouraging stats from joint research from NACHA and PYMNTS. Some 14 months since launch, and among 125 FIs surveyed, 66 percent are making same-day funds available. About 75 percent of firms plan to offer same-day ACH credit origination to their business customers by the end of 2018.

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PYMNTS

APRIL 11, 2016

A cloud-based property management software is promising to take away the pain of paying and cashing rental payments with its ACH payment processing capabilities. “Providing the option for faster processing for automated rent payments via ACH means our clients can access rental income almost immediately.”. .

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PYMNTS

FEBRUARY 21, 2017

The suggestion, then, was to use tokenization to ascertain account validity and funds availability in consumers’ accounts, using API calls from the merchant. As for the Same Day ACH initiative launched late last year, the executive noted that employers can complete critical deposits, such as payroll, done without errors or delays.

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Faster Payments Same Day ACH NACHA Credit Union 51

PYMNTS

FEBRUARY 6, 2018

From employers who use the service for direct-deposit payments to landlords and utility companies that use it to collect rent or monthly bills, same-day ACH has been gaining in popularity and putting a variety of payment types in the fast lane. The Same-Day ACH Corporate Survey is designed to gauge demand and use of SDA.

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PYMNTS

SEPTEMBER 21, 2018

Same-day ACH: NACHA expanded the offering to all FIs and customers, and expanded a number of service offerings. Funds availability speed is expanded for some transactions and ACH credits. Same-day ACH transactions logged a 243 percent increase in the second quarter of 2018, measured year-over-year.

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PYMNTS

AUGUST 30, 2018

for example, the last of three same-day ACH phases was rolled out earlier this year, which requires receiving depository financial institutions to make funds available by 5 p.m. local time on the same day as ACH credits. In the U.S.,

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PYMNTS

JULY 2, 2019

The new Canada Instant Transfer offering reflects growing desire for quicker payments and instant access to funds. PayPal says that “60 per cent of consumers report that having funds available more quickly for personal use is a benefit of real-time funds disbursements.”

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PYMNTS

APRIL 8, 2016

And the ACH Network provides a building block to develop these new services, Estep said – because it’s “skinny”. “It Three of those innovators were highlighted at 2016 PYMNTS Innovation Awards, and were recognized for being the “Best Innovation in ACH.” ZipLine has easy pay at the pump that takes out the friction of an ACH payment.

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Stax

NOVEMBER 21, 2024

We recommend surcharging for food and drink, transportation, and eCommerce businesses.

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Credit Cards Small Business Process Credit Card Payment Processing 88

Payment Savvy

NOVEMBER 14, 2022

An eCheck is often referred to as a direct debit, ACH payment, or ACH transfer. With an electronic check, money is electronically transferred from the payer’s checking account to the seller’s checking account, where it is directly deposited after passing through the national ACH network. Name and address of your business.

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Checks Direct Deposit ACH Online and Mobile Banking 52

Fi911

AUGUST 1, 2023

FedNow offers a flexibility that conventional online transfers via the Automated Clearing House (ACH) Network currently don’t provide. ACH transfers, which operate in batch mode, typically require one to three business days for completion. FedNow is accessible to all banks and credit unions.

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EBizCharge

MAY 15, 2024

During transaction authorization, issuers evaluate fund availability to ensure seamless payment progression. Their security measures and fraud detection systems actively safeguard cardholder accounts, and they facilitate billing by creating statements while also initiating fund transfers.

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PYMNTS

SEPTEMBER 26, 2019

There is a long timeline during which payees may call upon the funds, with banks being legally required to cash checks within six months of issuance — many will permit doing so long after that time frame. Hackers have also attacked the ACH system, which is not instant, to create fake employee files and collect payroll payments.

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Payment Savvy

SEPTEMBER 24, 2020

Inquire About Funds. Merchants who processed a bad check shouldn’t redeposit them before contacting the bank that they were written on for fund availability. If the cash is available, make sure you redeposit it right the check immediately. Miscalculations can happen on both the part of the customer and the bank.

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PYMNTS

AUGUST 26, 2016

Yantra noted in a release that disbursement of funds can be initiated via application programming interfaces, commonly known as APIs, and can be facilitated across channels as varied as ACH transactions, cards and internal payments.

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PYMNTS

MAY 22, 2018

The fact remains that all disbursements by businesses are still done, largely, through legacy means, as 80 percent of firms still send checks or use first-generation ACH — and don’t confuse Same-Day ACH with instant, as it is fast, indeed, but not that fast. That is pretty powerful, and the power is in the hands of the receiver.

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Push-to-Card Same Day ACH ACH Payments 40

PYMNTS

MAY 2, 2018

All the customer ever has to deal with is making funds available. “They might not even be aware that a supplier is able to accept credit cards or ACH payments,” he said. . “We know that a supplier needs to get paid on a certain date,” he said. The solution is going to optimize payment methods.

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Accounts Payments Automation B2B 46

EBizCharge

NOVEMBER 21, 2024

For example, ACH payments have an effective date of two to three business days post-transaction. For example, ACH payments have an effective date of two to three business days post-transaction. In comparison, wire transfers typically take one to five business days (or more) but sometimes offer same-day fund availability.

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PYMNTS

SEPTEMBER 17, 2018

Just like we’re seeing on the retail side of payments, innovators are leveraging the ubiquity of the business bank account to build solutions that deliver the certainty that corporates say they want and need when making and receiving payments from other businesses and making those funds move faster as well.

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Rules Zelle Payments PayPal 78

PYMNTS

AUGUST 2, 2019

In particular, merchants must be sensitive to the local payroll, payment rail and industry norms that affect customers’ fund availabilities, then use this information as guidance for when to charge their users’ accounts. Europeans, by contrast, are paid once per month.

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Payments Online and Mobile Banking Cross-Border Credit Cards 49

PYMNTS

OCTOBER 8, 2019

However, enablers of instant money assume the risk between the time when they make funds available and when settlement happens later.”. That’s particularly true when funds are truly instant — meaning they are irrevocable. “In either case, the consumer is going to say, “oh, cool, I got my money right away.”

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PYMNTS

APRIL 24, 2018

Indeed, faster payment initiatives like Same-Day ACH may not be groundbreaking advancements in B2B payments (yet), but when it comes to payroll, experts and employers agree there is an opportunity for faster payments to make their mark. This is often discussed in the context of fixing payroll errors or sending last-minute funds to employees.

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Payroll Consumer Financial Protection Bureau (CFPB) Faster Payments Real Time Payments 43

BNG Payments

FEBRUARY 4, 2022

Once a customer's payment is read by one of these terminals it will then contact their bank in order verify if there are enough funds available for purchase before complete transaction processing.

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Credit Card Payment Processing Credit Cards Process Online and Mobile Banking 52

PayHawk

APRIL 18, 2023

Authorization Hold The practice of holding funds from the cardholder’s account to ensure the availability of funds before the completion of a transaction. Automated Clearing House (ACH) An electronic network that enables the transfer of funds between bank accounts.

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Fintech Labs Insights

APRIL 12, 2022

ACH/electronic payments*. Immediate funds availability (with limits). Must-have features: Email/SMS customer service (extended business hours). Bullet-proof fraud protection (no cap in maximum dollars*). Bill payment*. Two-factor authentication. Customizable alerts. Downloadable transactions (common file formats).

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Small Business Accounts Online and Mobile Banking Authentication 15

Fintech Finance

MARCH 5, 2025

Regent Bank, a trusted institution known for its innovative financial services, joins Aeropay’s growing ecosystem of banking partners, offering clients and end-users access to ACH, Real-Time Payments (RTP), and FedNow services. FedNow : A new, fast payment service facilitating immediate funds availability.

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PYMNTS

OCTOBER 7, 2020

Bill payments can be done free of charge across ACH bank transfers or via credit cards for a few. A one-day delay in having funds available in the bank can mean life or death for smaller companies. In a nod to payments flexibility, Melio offers a (free) digital accounts payable and receivable solution for small companies.

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