Remove Credit Push Remove Faster Payments Remove Same Day ACH
article thumbnail

Breaking Down The Faster Payments Construct

PYMNTS

In just a matter of days, the payments industry will see a significant — and ubiquitous — change in the way payments are sent and received. Same Day ACH will create a new option for faster payments for all the banks and credit unions across the U.S.

article thumbnail

Forty Is The New Faster (Payments)

PYMNTS

Forty is the new fasterpayments, that is. More than 40 years after its debut, the Automated Clearing House Network becomes the first payments system in the country to offer ubiquitous faster payments to every consumer and business in the U.S. via all banks and credit unions. Today (Sept. Today (Sept.

article thumbnail

What’s Fast And Slow And Read All Over?

PYMNTS

Take faster payments. The company that commercialized the idea and consolidated the market to establish the first global faster payments network was Western Union in 1851. Western Union launched its national money transfer, which provided fast payments between people and businesses, in 1871. back in 2014.

Fed 47
article thumbnail

Past Lessons May Prove Invaluable For US Real-Time Payments Rollout

PYMNTS

Real-time payments initiatives are under way all across the globe, but there is little consistency across jurisdictions regarding how the financial services sector takes on the initiative or where each market is at in terms of progress in achieving real-time payments capabilities. In the U.S., Luckily, U.S.

article thumbnail

US Finds Its Faster Payments Future

PYMNTS

Same Day ACH, the faster payments initiative for banks and other financial institutions in the United States, seems to be popular. still has a long way to go and plenty of faster payment lessons to learn. still has a long way to go and plenty of faster payment lessons to learn.