PYMNTS

AUGUST 3, 2016

Same Day ACH has been a focus for banks since it was proposed in early 2014. Phase 1 of the Faster Payments initiative launches on Sept. will be able to accept Same Day payments, with the option to originate them. 23 to go smoothly is that the ACH network is already being used by banks and consumers.

Same Day ACH 41

Same Day ACH ACH NACHA Faster Payments 41

PYMNTS

SEPTEMBER 9, 2016

With the Same Day ACH rollout coming in just two weeks and other faster payments initiatives taking off, financial institutions are taking significant steps to ensure the transition to a faster processing environment, including improving their payment security platforms to keep fraudsters at bay.

Same Day ACH 40

Same Day ACH ACH ODFI Faster Payments 40

PYMNTS

MAY 25, 2017

Hence the recent announcement of the 2017 NACHA Payments Awards , which seeks to spotlight innovation and advancements in payments technology, which this time around was predicated on proven accomplishment in advancing electronic payments and finding new ways to leverage Same Day ACH.

NACHA 46

NACHA Same Day ACH Innovation ACH 46

PYMNTS

SEPTEMBER 26, 2016

Matt Clark, COO at Corcentric, offered PYMNTS some insight into the challenge of supporting the demands of both buyer and supplier, a feat that can include disparities over which payment rail either side prefers. It’s unlikely that one payment technology will become so popular that it drives others into irrelevancy, he said.

B2B 65

B2B Same Day ACH ACH Commercial Card 65

Stax

JUNE 27, 2024

Additionally, ACH payments are processed in batches and take a few business days (though they’re usually cheaper), whereas wire transfers are processed individually and can be completed within the same day. International wire transfers can take up to 7-10 days Costs and fees Around 1% of the payment amount.

Wire Transfer 88

Wire Transfer Wire Wires ACH 88

Fintech Labs Insights

OCTOBER 16, 2016

As of September 30, a new rule from NACHA requires all banks to process incoming same-day ACH credits. Most ACH payments are currently settled on the next business day: the new rule-change offers originators the option to send an ACH transaction to any recipient account for same-day processing.

EMV 17

EMV P2P Same Day ACH FinTech 17

PYMNTS

JULY 16, 2018

That effort aims to create a standard for making payments and settlement happen in real time across the entirety of the U.S. The task force published its recommendations in 2017, the same year NACHA went live with Same Day ACH across all of the banks in the country. banking system.

On-Demand 43

On-Demand Settlement Consumer Faster Payments 43