Check Clearing Same Day ACH Ubiquitous 
PYMNTS
JULY 24, 2017
Between 1866 and 1910, Western Union fought bitterly with the federal government over who should own and operate this network now that it was up and running and ubiquitous. Ubiquitous means all, or certainly almost all, of the 13,000-plus FIs that exist here in the U.S. The year was 1837. The invention was the telegraph.
PYMNTS
MARCH 28, 2016
But, don’t look for the recommendation to kill checks to emerge from the report that the 500+ person Fed Task Force that’s examining the path forward for the U.S. Blowing up checks would open a number of other doors for banks to provide value to consumers via “faster” and more efficient payments that they could also monetize.
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