PYMNTS

AUGUST 12, 2019

Senator Elizabeth Warren asks in a campaign ad, ignoring the fact that 93 percent of working Americans have their checks directly deposited into their bank accounts – ready for use on payday – using the ACH network. Ironically, perhaps, the ACH network’s first direct deposit use case was the U.S.

Real Time Payments 78

Real Time Payments FedNow TCH Fed 78

PYMNTS

FEBRUARY 11, 2019

NACHA and Same Day ACH debuted EXACT DATE to enable same-day settlements through three settlement windows, and are currently exploring options to extend that availability on weekends and holidays. Now, we have checks, we have wires, we have ACH. I would say the same thing about a lot of the faster [payment] rails.”.

Faster Payments 78

Faster Payments Real Time Payments Same Day ACH Payments 78

Nanonets

SEPTEMBER 1, 2023

Over time, business payments have evolved from ACH to wire transfers and credit cards, culminating in the emergence of FedNow. Depending on your business's unique circumstances, you now have options like ACH, virtual cards, and tailored online methods for vendor payments. per invoice during processing.

FedNow 52

FedNow Wire Transfer Federal Reserve ACH 52

PYMNTS

JANUARY 21, 2019

It didn’t take a regulatory proclamation for Same Day ACH to become ubiquitous in the U.S. – Naturally, innovators are leveraging Same Day ACH and push payments capabilities to innovate along a variety of new services and solutions. Oddly, the push for faster payments also comes at the same time when payments in the U.S.

Faster Payments 77

Faster Payments Same Day ACH Fed Real Time Payments 77

PYMNTS

SEPTEMBER 26, 2019

Instant transactions require that money move immediately and irrevocably, and TCH states that supporting push payments only reduces fraud risks. Hackers have also attacked the ACH system, which is not instant, to create fake employee files and collect payroll payments. Instant payment systems, such as TCH’s RTP and the U.K.’s

Payer 67

Payer Push-to-Card Real Time Payments Payee 67

FICO

APRIL 29, 2022

Increasingly, the scams involve cryptocurrencies; The New York Times also recently investigating crypto romance scams in which victims are lured into paying criminals with fraudulent, and irrevocable, transfers into digital wallets. Transactions through the automated clearinghouse (ACH) channel are on the rise, too.

Retail Payments 52

Retail Payments Zelle Consumer Romance Scams 52

FICO

DECEMBER 20, 2022

Credit cards have seen record growth and near-record balances through 2022, and alternative payment methods are booming, including everything from ACH and real-time money transfers to phone-based systems like Apple Pay and Google Pay. ACH Will Improve Business Cash Flows — and Scams Will Follow.

Digital Payments 52

Digital Payments Scams BNPL ACH 52

PYMNTS

JANUARY 3, 2020

That number is even higher (nearly 62 percent) when counting people who received an instant disbursement, like ACH , from government or other sources in 2019. These include advanced data security and new state and federal regulations governing payout mechanisms – to say nothing of the irrevocable nature of instant payments.

Instant Payments 60

Instant Payments Payments Ubiquitous Push-to-Card 60

PYMNTS

OCTOBER 8, 2019

That’s particularly true when funds are truly instant — meaning they are irrevocable. There’s more to [instant] than bolting it onto a suite of other payment services they offer to corporate clients like checks, ACH and wire services,” Edwards said.

Instant Payments 49

Instant Payments Push-to-Card Payments Settlement 49

FICO

JUNE 15, 2023

If there is a common denominator across all the scams, it’s the instant and irrevocable nature of real-time payments. They can attract capital just like real banks and do damage to prudent savers moving precious assets from, for example, an impacted regional bank to a fake one that convincingly poses as legitimate.

Scams 52

Scams Real Time Payments Smishing Same Day ACH 52

PYMNTS

NOVEMBER 19, 2019

The problem was, the customer could be approved instantly for a loan, but they didn’t get the money for another week because of the friction around setting up an ACH transfer and doing trial deposits,” said Edwards. On top of all that, there are also security concerns, because instant payments are also irrevocable.

Instant Payments 43

Instant Payments Online and Mobile Banking Remote Deposit Capture Push-to-Card 43

PYMNTS

MARCH 7, 2016

Instantly, and irrevocably. And with multiple solutions facing the industry to enable this new capability: Same Day ACH will begin its Phase One rollout this fall. Here in the U.S., The Clearing House says it will have something in market by the end of the year.

Online and Mobile Banking 46

Online and Mobile Banking Payments Same Day ACH Financial Inclusion 46