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When NACHA first released its Same Day ACH 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.,
and is expected to be more widely used than traditional payment methods, like checks, by 2020,” the company wrote, citing data from National Automated Clearing House Association (NACHA). “ACH debit is becoming an increasingly popular choice for B2B payments in the U.S.
By moving payments between FIs more frequently, counterparty hazards can also be reduced, and creditlimits may be managed more robustly. The PYMNTS Faster Payments Tracker™ , powered by NACHA, is your go-to resource for staying up to date on a month-by-month basis. About The Tracker.
Establish clear credit policies Transparent credit policies will clearly outline terms for extending credit to customers to reduce bad debts, eliminate risks, and establish consistent credit extension guidelines. Creditlimits based on customer risk profiles manage exposure to bad debts.
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