Remove NACHA Remove Payer Remove Same Day ACH
article thumbnail

The Acceleration Of Payment Rails, Old And New

PYMNTS

’s newest real-time payment rails, the RTP network, is looking to expand the opportunity for payers to use the faster payment rail by increasing transaction limits. Same-Day Boosts ACH Adoption. In a press release last week, NACHA said 6.4 In a press release last week, NACHA said 6.4 million payments.

article thumbnail

How Small Businesses Ride Their Payment Rails

PYMNTS

NACHA released new statistics late last week on growth of ACH transaction volume in the U.S. According to the firm, B2B transactions were a key driver of ACH transaction growth in the third quarter of the year, leading NACHA Chief Operating Officer Jane Larimer to describe the ACH Network as “thriving.”.

article thumbnail

PNC Automates Faster Payments Choice For Corporate Treasurers

PYMNTS

The decision will be made based upon an array of factors, including which payment method offers the lowest cost to the payer, enables the fastest delivery and other parameters pre-established by the treasurer client. If not, the payment will then automatically be initiated via ACH.

article thumbnail

Australia Central Bank Acknowledges Faster Payments’ Risk Challenge

PYMNTS

similar initiatives were introduced in the financial services sector for the nation’s own implementation of faster payments via Same Day ACH, which launched only months ago. Same Day ACH limits transaction values to $25,000. In the U.S., Customers’ Role.

article thumbnail

When B2B Payments Innovation Is All Talk, No Action

PYMNTS

Last June, NACHA and the Credit Research Foundation said that at present, paper checks make up half of B2B transactions received in the accounts receivable department; ACH accounts for less than a third. Further, in NACHA’s most recent update on same-day ACH volume – which found $87.1

B2B 55
article thumbnail

For Insurance, Faster Payments Means Nothing Without Data

PYMNTS

.” The acceleration of ACH payments — namely, the implementation of Same Day ACH — has its place in the insurance market, he added, particularly when it comes to B2C use-cases, like workers’ compensation and claims payouts. “That’s the difficult part.” ”

article thumbnail

Why Faster Payments Isn’t The Answer To Accounts Receivable Delays

PYMNTS

When NACHA first released its Same Day ACH capability, only about 6 percent of the first 2 million transactions made in the service’s first 11 days were B2B payments. where he doesn’t see the same type of regulatory pressure on late payers that the U.K. As Rimilia expands into the U.S.,