PYMNTS

MARCH 18, 2019

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. This delay was initiated by the Fed. Okay, so maybe the Fed’s payments folks are just busy. No date has been given for that process.

Faster Payments 80

Faster Payments Fed RTP Same Day ACH 80

PYMNTS

MAY 10, 2019

13, 2018, NACHA , the rules and standards body for the ACH network, announced that its voting members had approved amendments to the NACHA Operating Rules & Guidelines to establish a third Same Day ACH processing and settlement window,” the Federal Reserve wrote in the announcement. . “On Sept.

FedWire 51

FedWire Same Day ACH Federal Reserve Nacha Operating Rules 51

PYMNTS

JANUARY 21, 2019

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. And maybe move the Fed in their preferred direction. That suggests that putting the Fed front-and-center in the U.S.

Faster Payments 77

Faster Payments Same Day ACH Fed Real Time Payments 77

PYMNTS

FEBRUARY 4, 2019

Consumers may find it easy to pull out cards, but this system doesn’t work as well for retailers, who must wait one to three days for those payments to process. . Use of Same Day ACH (SDA) — overseen by NACHA (The Electronic Payments Association) and the Federal Reserve — has risen. Faster Rails. The Federal Approach.

Faster Payments 73

Faster Payments Federal Reserve Real Time Payments TCH 73

PYMNTS

JANUARY 7, 2020

In fact, the Fed was involved in that very issue earlier this year. PYMNTS CEO Karen Webster wrote about the issues this created within the industry: “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. .

Payroll 52

Payroll Same Day ACH RTP Fed 52

PYMNTS

JUNE 18, 2019

The Clearing House [TCH] launched its own RTP network at the end of 2017.). The rollout of Same Day ACH several years ago served to kick-start the process.”. The collaborative mindset that comes in tandem with, say, the aforementioned Fed initiative can help fix flaws in existing systems.

RTP 78

RTP P2P B2B RFP 78

PYMNTS

JULY 28, 2016

Another big confusion point for ISO 20022 is its application to ACH – and now Same Day ACH. Estep makes it clear that the concept of Same Day ACH needs to be separated from ISO. Even the most recent work with the U.S. TURNING CONFUSION INTO CLARITY.

ISO 20022 40

ISO 20022 ISOs NACHA ACH 40