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Receivable Savvy, an accounts receivable and order-to-cashmanagement firm, wants suppliers to see SameDayACH as an opportunity to bolster cash flow. These companies must first communicate with their corporate customers to see whether receiving funds via SameDayACH is even an option.
In an announcement on Friday (April 5), OnDeck announced the rollout of its Same-DayACH transfer functionality, enabling small businesses who have term loans or lines of credit with OnDeck to receive funds on the sameday they draw on their lines of credit. on a business day. .
When NACHA first released its SameDayACH capability, only about 6 percent of the first 2 million transactions made in the service’s first 11 days were B2B payments. With faster payments functionality beginning to take off in the U.S., In the U.K., As Rimilia expands into the U.S.,
In the context of the rollout of SameDayACH, as well as new research that found companies have actually increased their use of the paper check in the last three years, the payment rail choice isn’t always easy. The data makes that glaringly clear. There’s a lot of friction between suppliers and customers.”
Deutsche Bank’s report also pointed to liquidity management, investment, and cash application as some of the processes that benefit from faster payments and access to transaction data in real-time.
According to NACHA statistics on SameDayACH, nearly 2 million debits were made in just the first 11 days of service, accounting for a combined $1.5 may see a reduction in some of their largest cashmanagement challenges. “We billion in funds.
Wieser said SEPA has not only streamlined B2B transactions across the continent, but has also made them faster, which has actually benefited supply chains and corporates’ cashmanagement strategies. It makes liquidity and cashmanagement much easier,” he explained. In the U.S.,
As of September 30, a new rule from NACHA requires all banks to process incoming same-dayACH credits. Most ACH payments are currently settled on the next business day: the new rule-change offers originators the option to send an ACH transaction to any recipient account for same-day processing.
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