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The Electronic Payments Association (NACHA), steward and rule maker of the ACH Network, recently provided the SameDayACHtransaction volume data for September 23 to December 30, 2016. Direct deposit made up the largest segment of SameDayACHtransaction volume — some 52 percent, or 6.8
So far, the IPX solution has displaced 25% of same-dayACHtransactions, with 53% fewer fraud losses compared to same-dayACH and an 83% reduction in operational overhead for P2P payment networks.” . “The IPX solution empowers our members to take control of their cash flow.
The Electronic Payments Association (NACHA), steward and rule maker of the ACH Network, just released findings from the SameDayACHtransaction volume data for Sept. SameDayACH is an industry initiative toward faster payments. Direct Deposit comprised 52 percent of SameDayACH volume, or 6.8
In an interview with PYMNTS’ Karen Webster, Jane Larimer , chief operating officer at NACHA , said that the implementation of Phase 1 of SameDayACH has gone smoothly, with a live debut last September. We’re seeing robust use of same-dayACHcredits,” said Larimer.
. “Governments, financial institutions, businesses and consumers are all reaping the benefits the ACH network provides.”. billion ACH debit and close to 2.3 billion ACHcredittransactions made in the third quarter of this year. billion internet transactions were made, representing a 14.0 Close to 1.5
And in the latest installment of Data Drivers, statistics show that the recently launched SameDayACH initiative has got businesses, and consumers, moving to manage cash flow on a daily basis, across a variety of use cases. Drilling down into the 4 million transactions, a significant carve-out — 1.9 13 percent.
In addition, business-to-business (B2B) ACH payments grew by more than 13 percent and comprise 16 percent of ACH Network volume. ACH has seen its share of growth over the past year. In July, NACHA announced that debit and credittransactions totaled more than 5.7 billion ACH debit transactions and close to 2.4
The company also helps third-party organizations across various industries integrate instant payments with traditional payment tools into their existing payment and money movement use cases including A2A, P2P, Bill Payment, B2B and B2C disbursements. Launching Payfinia will help Tyfone further build on the instant payments experience.
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