EBizCharge

JUNE 3, 2024

This cost efficiency, coupled with the heightened security features of modern electronic transfer systems, underscores the critical importance of EFTs in today’s financial ecosystem. These electronic transfers range from automated payments to on-demand transfers.

Funds Transfer 52

Funds Transfer Electronic Fund Transfer Act (EFTA) Electronic Funds Transfer (EFT) Wire Transfer 52

Stax

NOVEMBER 11, 2024

ACH transfers, or payments made through the Automated Clearing House network, account for billions of dollars in payments annually. The average consumer commonly uses the ACH network for automated bill payments and larger transactions. In fact, NACHA, the nonprofit that governs the ACH payments network reported 6.1% in Q4 2021.

ACH 88

ACH Checks Identity Theft Payments 88

Global Fintech & Digital Assets

DECEMBER 21, 2023

Operational Risk Banks furnishing BNPL loans via automated processes “with instantaneous credit decisioning and frequent strong reliance on third parties” may experience higher rates of borrower fraud and default.

OCC 59

OCC BNPL Electronic Fund Transfer Act (EFTA) Federal Trade Commission 59

Clearly Payments

FEBRUARY 8, 2024

Payment Networks: Major payment networks such as Visa, Mastercard, and the Automated Clearing House (ACH) Network also play significant roles in regulating payment transactions. It mandates disclosure of terms and conditions, error resolution procedures, and limits on consumer liability for unauthorized transactions.

Regulations 105

Regulations Electronic Fund Transfer Act (EFTA) Federal Reserve Electronic Funds Transfer (EFT) 105