PYMNTS

DECEMBER 7, 2016

Same Day ACH, the faster payments initiative for banks and other financial institutions in the United States, seems to be popular. According to NACHA, the network processed nearly $5 billion in 3.8 still has a long way to go and plenty of faster payment lessons to learn. Around the Faster Payments world.

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PYMNTS

NOVEMBER 16, 2016

NACHA, the payments association behind the ACH network, said Tuesday that 3.8 The total value of those same day payments came to $4.9 In reference to use cases, emergency payroll stands out as a significant slice of the initial ACH faster payments, with the direct deposit category coming in at 49 percent of volume, or 1.9

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PYMNTS

OCTOBER 5, 2016

Blockchain technology has allowed businesses to eliminate unnecessary, not to mention costly, intermediaries and significantly reduce international cross-border payment processing time from weeks to a day. With these benefits in mind, blockchain has recently captured the attention of several players from around the faster payments space.

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PYMNTS

MARCH 18, 2019

Take two announcements from just last week, related to the evolution of faster payments in the U.S. First, there was the Fed’s decision to slow faster payments progress via Same Day ACH because it wasn’t ready to approve another processing window during the day. Okay, so maybe the Fed’s payments folks are just busy.

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PYMNTS

SEPTEMBER 21, 2016

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. What’s Under The Faster Payments Umbrella?

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Payments Source

SEPTEMBER 19, 2017

Same-day and real-time payment products are designed for basic transfers that don't meet the more complex needs of Lyft's ride-sharing service, contends Ashwin Raj, Lyft's vice president of payments.

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PYMNTS

MAY 8, 2019

NACHA and its Payments Innovation Alliance announced that it is working with the U.S. Faster Payments Council (FPC) to expand the Faster Payments Playbook. The Faster Payments Project Team has been working for almost a year to develop faster payments resources, including the Playbook. “The

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PYMNTS

DECEMBER 8, 2016

Less than two months after its implementation, Same Day ACH, the ubiquitous faster payments initiative for the payments industry in the United States, is showing a significant impact on the market, but it still has plenty to learn from those across the pond. still has faster payment lessons to learn.

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PYMNTS

SEPTEMBER 17, 2018

NACHA — The Electronic Payments Association — announced that its membership has approved three new rules that will expand Same-Day ACH for all financial institutions and their customers. NACHA and its members are now delivering those enhancements.”. The value of the payments was $4.5 local time.

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Payments Source

SEPTEMBER 7, 2017

As the next step of Nacha's faster payments initiative nears, technology and management adjustments may be required to handle increased overdraft risk.

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PYMNTS

SEPTEMBER 23, 2016

Forty is the new faster — payments, 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.

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PYMNTS

JANUARY 31, 2019

NACHA recently released new figures on ACH network volume, revealing earlier this week that Same-Day ACH volume grew 46 percent between Q4 2017 and Q4 2018, surpassing 50 million transactions for the first time. Accelerated payments are taking off in several markets around the world, and NACHA’s latest figures demonstrate U.S.

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Faster Payments Council

JANUARY 20, 2020

According to the results of our recent Faster Payments Barometer Study, 48% of organizations identify as early adopters of faster payments. While that's a healthy number, it demonstrates we still have work to do to reach the goal of ubiquitous adoption that is our target here at the Faster Payments Council.

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PYMNTS

FEBRUARY 11, 2019

Might the state of faster payments be described as “conflicted?”. That can be a problem when, by and large, payments as an industry still operates through what might be termed as “a batch process.” Even if you take faster payments out of the equation, there are a number of rails,” he said. Where We Are Now.

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NACHA

MAY 8, 2024

Nacha is pleased to announce that Kara Ford, Industry Relations Manager at the Federal Reserve, was named the winner of Nacha's inaugural 15 Under 40 Award, recognizing outstanding young professionals shaping the future of the payments industry.

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PYMNTS

FEBRUARY 4, 2019

Real-time payment systems are quickly cropping up across the globe. This rapid expansion is fueling predictions that the global real-time payments market will rise from a value of $6.8 This rapid expansion is fueling predictions that the global real-time payments market will rise from a value of $6.8 Faster Rails.

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PYMNTS

OCTOBER 15, 2020

With the current state of economic upheaval, the ongoing pandemic and the great digital shift, corporates and financial institutions are racing to digitize and modernize payment flows and back-end processes. That’s strong growth for something that is a mature payment product,” said Larimer. Moving Beyond ACH .

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PYMNTS

JANUARY 21, 2019

There’s a canary in the faster payments coalmine. That was the day that an advocacy group, Financial Innovation Now (FIN), submitted a public comment letter to the Fed in response to its proposal to create and operate a real-time payments system in the U.S. It flew in on Dec. Here’s where the canary flew in.

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Payments Dive

JANUARY 11, 2021

In advance of Nacha's upcoming WEB Debit Account Validation Rule, slated to take effect on March 19, 2021, this report serves as a guide on how to apply proper account validation measures.

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PYMNTS

FEBRUARY 19, 2019

With faster payments functionality beginning to take off in the U.S., the outlook of how accelerated transaction times might impact B2B payments and, more specifically, the issue of late payments to suppliers, remains unclear. “We see faster payments coming into the U.S. In the U.K., In the U.K.,

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Faster Payments Council

MAY 7, 2020

Around the world, QR codes continue to explode in popularity as a payments instrument. While many digital payments modalities are gaining traction today, the opportunity with QR codes lies in their ability to offer the optimal "high-tech-meets-low-tech" solution. trillion U.S. in the fourth quarter of 2019.

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PYMNTS

NOVEMBER 3, 2016

Of the displaced masses, the Consumer Federation of America expects more than 100,000 insurance claims to be filed and anticipates insurance payments to top $7.5 In the interview, Hauff discussed how insurance companies are trying to expedite the payments process using aging technology platforms. Overcoming the antiquated.

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PYMNTS

JULY 3, 2017

Earlier this month, NACHA (the National Automated Clearinghouse Association) sent its Government Relations Advisory Group on its annual pilgrimage to Capitol Hill. The purpose of Capitol Hill Day is to provide updates and continued education to Congressional representatives and staff regarding the ACH Network, payments, and operating rules.

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Payments Dive

APRIL 17, 2023

Financial institutions, payments players and other businesses are being drawn in by FedNow, according to survey results presented at the Nacha Smarter Faster Payments conference.

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PYMNTS

NOVEMBER 15, 2016

The Electronic Payments Association, NACHA, has released volume data tied to the first calendar month of same-day ACH transactions. As has been reported, October marks the first full month of activity following the September 23 implementation of Phase I of the Same Day ACH movement, with an attendant goal of making payments faster.

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PYMNTS

SEPTEMBER 15, 2020

The old saying goes: Faster payments, faster fraud. At a high level, the changes to Nacha ’s WEB Debit Account Validation Rule mandate that as of March 19, 2021, account verification must be part of anti-fraud efforts.

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PYMNTS

JULY 6, 2017

With the speed of payments accelerating and Same Day ACH initiatives continuing to roll out, NACHA has pulled together a group of industry experts to explore API standardization as a way to facilitate faster payment speeds and greater transaction security, among other use cases.

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PYMNTS

FEBRUARY 21, 2017

Faster is better when it comes to payments — but only if with speed comes surety. In last year’s NACHA Challenge Awards , a team competition that fosters payments innovation, Royal Credit Union earned the Audience Choice Award by proposing an API that lets companies validate consumer accounts in real time.

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PYMNTS

SEPTEMBER 4, 2017

NACHA, the Electronic Payments Association, announced Friday several staffing changes along with realignment of some responsibilities – efforts the overseer of the ACH network said would dovetail with new strategic directions. . Herd, said NACHA, will oversee the rules and risk functions.

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PYMNTS

FEBRUARY 8, 2017

With faster payments solutions increasingly in place, businesses are discovering new tools for exchanging money. Several companies are showing an interest in faster payments solutions to help get funds exchanged quickly and efficiently. News from the world of faster payments. About The Tracker .

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PYMNTS

DECEMBER 12, 2017

Faster and real-time payments are generally considered a benefit for the consumer payments world. finally making inroads in its faster payments initiatives, it’s now time to see whether faster payments will make their way into the B2B sphere too. Another faster payments service in the U.S.,

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PYMNTS

JUNE 7, 2017

Not only are faster payment tools bringing helping to exchange funds at a quicker pace, but these solutions are also transforming the certain aspects of the gig economy and spurring investments in new payment infrastructures. But SwapsTech’s investment is not the only FinTech to network investment on the faster payment scene.

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PYMNTS

APRIL 21, 2020

The coronavirus pandemic has some organizations playing payment rails musical chairs in their accounts payable (AP) departments as they adjust payment strategies (and methods) to suit their needs in a volatile, remote working environment. Just which payment rail they will migrate to, however, remains unclear.

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PYMNTS

AUGUST 3, 2017

The faster payments get, the less tolerable waiting becomes for customers, businesses and other financial players. But in late July, one of the biggest waits in the payments industry came to an end. faster payments system, efforts by NACHA to standardize APIs across the industry and recent investments in blockchain solutions.

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PYMNTS

JANUARY 11, 2017

When it comes to faster payments, we have decidedly achieved liftoff. Faster payments solutions are gaining traction as more companies roll out solutions to help companies distribute funds faster between businesses, institutions and consumers. News from the world of faster payments.

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PYMNTS

OCTOBER 11, 2018

Workers want faster payments and don’t want to be paid via direct deposit. In a company blog post , Schulman said this marks an important milestone for the digital payments company. Even so, the enterprise is still unsure about faster and real-time payments. Gig economy platforms have found an alternative.

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Payments Source

MARCH 13, 2019

After more than two years of successful operation in delivering Same-Day ACH payments, Nacha's request to add a third processing window has been denied by the Federal Reserve, which says it has to obtain public comment on the concept.

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