Stax

NOVEMBER 11, 2024

NACHA also requires businesses to take responsibility for reversals in the event of errors or duplicate transactions. Businesses are expected to have procedures in place to promptly address and reverse erroneous ACH payments, maintaining integrity and trust in the ACH network.

ACH 88

ACH Checks Identity Theft Payments 88

Global Fintech & Digital Assets

DECEMBER 21, 2023

Credit and Underwriting Risk Borrowers may not fully understand BNPL loan repayment obligations or may take on excess credit, and creditors may be disadvantaged by the lack of credit history or BNPL activity captured by credit reporting agencies.

OCC 59

OCC BNPL Electronic Fund Transfer Act (EFTA) Federal Trade Commission 59

Nanonets

MAY 8, 2024

Dispute Handling : Stripe provides robust dispute handling mechanisms, enabling businesses to efficiently manage and resolve payment disputes, safeguarding revenue and maintaining customer trust. Standardize Operations : The design of standardized procedures for reconciliation fosters uniformity and precision.

Reconciliation 52

Reconciliation Settlement Alternative Payment Methods Automation 52

Clearly Payments

FEBRUARY 8, 2024

Through transparent disclosures, dispute resolution mechanisms, and limits on consumer liability, regulations shield consumers from deceptive practices and ensure their financial well-being. It mandates disclosure of terms and conditions, error resolution procedures, and limits on consumer liability for unauthorized transactions.

Regulations 105

Regulations Electronic Fund Transfer Act (EFTA) Federal Reserve Electronic Funds Transfer (EFT) 105