Finovate

OCTOBER 15, 2024

The company also helps third-party organizations across various industries integrate instant payments with traditional payment tools into their existing payment and money movement use cases including A2A, P2P, Bill Payment, B2B and B2C disbursements. Launching Payfinia will help Tyfone further build on the instant payments experience.

Instant Payments 52

Instant Payments FedNow Same Day ACH Federal Reserve 52

PYMNTS

OCTOBER 4, 2017

The October edition of the PYMNTS Faster Payments Tracker™ , powered by NACHA, looks at notable developments in the global remittance market, including new real-time payment tools for SMBs, blockchain and the latest trends in faster payments infrastructures, including the recent rollout of Same Day ACH Phase 2.

Zelle 40

Zelle P2P Same Day ACH NACHA 40

PYMNTS

JUNE 18, 2019

The rise of Zelle , and any number of peer-to-peer (P2P) payment options, has increasingly brought consumers on board with the need for speed in payments — where settlement is marked by seconds and minutes, not hours or days. The rollout of Same Day ACH several years ago served to kick-start the process.”.

RTP 78

RTP P2P B2B RFP 78

PYMNTS

SEPTEMBER 14, 2018

percent; and person-to-person (P2P) transactions were more than 29 million. More people than ever before are enjoying the benefits of Same Day ACH,” Larimer added. “As As the adoption of Same Day ACH continues to grow, NACHA will seek to continue to expand the capabilities of Same Day ACH and the ACH Network.”.

NACHA 49

NACHA ACH Volume Same Day ACH 49

PYMNTS

NOVEMBER 22, 2016

And in the latest installment of Data Drivers, statistics show that the recently launched Same Day ACH initiative has got businesses, and consumers, moving to manage cash flow on a daily basis, across a variety of use cases. million in direct deposit [across Same Day ACH] … it’s a bit more than what I thought.

Same Day ACH 65

Same Day ACH ACH NACHA Direct Deposit 65

PYMNTS

JANUARY 29, 2019

During the fourth quarter of 2018, ACH Network volume saw more growth than it has in the last decade, according to the National Automated Clearing House Association (NACHA), which noted same-day ACH payments also reached a new level. billion ACH payments happened in Q4 last year, including 3.5 Upwards of 5.9

ACH 65

ACH Same Day ACH ACH Network NACHA 65

PYMNTS

MAY 9, 2018

Across the board, merchants and consumers are embracing a faster payments world, as seen by the spike in Same Day ACH transactions. And the need for speed is visible around the world as consumers work to make P2P payments viable across borders. $37 75 million : The number of Same Day ACH transactions processed in 2017.

Same Day ACH 40

Same Day ACH ACH Real Time Payments P2P 40

PYMNTS

NOVEMBER 2, 2018

percent; and person-to-person (P2P) transactions were 32.7 In a press release , NACHA said the percentage increase represents one of its highest growth rates since 2008 and demonstrates that ACH payments, including same-day ACH transactions, are being embraced by businesses and consumers around the globe.

ACH Network 67

ACH Network ACH NACHA Same Day ACH 67

Payment Savvy

MAY 16, 2023

However, there are factors that can impact the transfer time: The time of day for the transfer The bank’s processing schedule Network transaction volume Additionally, ACH transfers only occur on business days, so weekends and holidays can also affect the processing time.

ACH 94

ACH Same Day ACH Direct Deposit Consumer Financial Protection Bureau (CFPB) 94

PYMNTS

JANUARY 15, 2018

6 percent: the portion of same-day ACH volume that constituted B2B payments during the first 11 days of NACHA’s launch of the service. Even more recent data from NACHA, released last week, said same-day ACH transactions accounted for $87.1

API 77

API B2B Same Day ACH Payment APIs and Integration 77

PYMNTS

SEPTEMBER 2, 2016

Not only are Same Day ACH payments on the way, but they are expected to have huge impacts on the way payments are made throughout the payments landscape. As we learned in last week’s installment of the Countdown to Same Day ACH podcast series, the first phase of the Same Day ACH initiative launches on Sept.

Faster Payments 42

Faster Payments Same Day ACH ACH ACH Network 42

PYMNTS

NOVEMBER 3, 2020

Desiring to access faster rails and the electricity around P2P transfers, consumers and businesses are driving the market’s obsession with speedier money during recovery. RTP Doing Its Part for a Quicker Recovery. And the market is responding with creativity, innovation … and velocity.

Real Time Payments 109

Real Time Payments RTP Same Day ACH Payer 109

PYMNTS

OCTOBER 3, 2017

The discussion took place as NACHA unveiled Phase Two of its Same Day ACH initiative, debuting same-day debits with an eye on settling bill payments with speed and security.

Faster Payments 49

Faster Payments Same Day ACH Demand Deposit Account (DDA) ACH 49

PYMNTS

DECEMBER 12, 2017

Federal Reserve made its own progress in exploring how the nation’s regulatory environment can support faster payments progress while maintaining security, while NACHA offered up some new data on same-day ACH volume growth in the country. billion in funds transferred using Same Day ACH, an average of $650 per transaction.

Faster Payments 48

Faster Payments Same Day ACH B2B Zelle 48

PYMNTS

MAY 10, 2018

The company announced news on Wednesday (May 9) that it is launching its Payment Account Tokenization solution to combat fraud in direct credit, direct debit and person-to-person (P2P) payments. Data from NACHA, however, found no increase in fraud reported by banks since the rollout of Same Day ACH last year.

Real Time Payments 43

Real Time Payments Same Day ACH ACH P2P 43

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. Same Day ACH and the card rails – both of which allow for money to move fast into consumer and business bank accounts for every consumer with a debit product.

Faster Payments 80

Faster Payments Fed RTP Same Day ACH 80

PYMNTS

NOVEMBER 21, 2016

Same Day ACH payments are gaining traction right out of the gate, with nearly $5 billion and 3.8 And though the bulk of that took place though direct deposit activity (think payroll) and B2B transactions, P2P and consumer bill pay saw tens of thousands of payments. The numbers are in. And we see the waves coming.

ACH 75

ACH Same Day ACH Payments Online and Mobile Banking 75

PYMNTS

NOVEMBER 6, 2018

Recently, NACHA — The Electronic Payments Association approved three new rules to update Same Day ACH services. Such was the case in Hong Kong, where the existing RTGS system was only serving high-value interbank transactions, leaving peer-to-peer (P2P) and consumer-to-business (C2B) payments to languish.

Faster Payments 53

Faster Payments Real Time Gross Settlement (RTGS) Same Day ACH Cross-Border Payments 53

PYMNTS

JANUARY 15, 2018

Separate data from NACHA found that of the 2 million same-day ACH transactions completed in the first 11 days of the service, just 6 percent were B2B payments; the rest were made up of B2C and P2P transactions. Further, in NACHA’s most recent update on same-day ACH volume – which found $87.1

B2B 55

B2B Innovation Same Day ACH NACHA 55

PYMNTS

APRIL 5, 2018

Still, companies are approaching gig payments — along with peer-to-peer (P2P) payments — in new ways to help speed up disbursements. The volume of same-day automated clearing house (ACH) transactions is expected to rise over the coming months. With the rise of Same Day ACH, FIs surveyed have not seen an increase in fraud.

Economy 43

Economy Zelle Same Day ACH P2P 43

PYMNTS

AUGUST 2, 2018

As Americans increasingly turn to their mobile devices to instantly pay through peer-to-peer (P2P) services like Venmo and Zelle, the act of writing a check or heading to the ATM for quick cash is becoming a thing of the past. P2P Payments To Power Loans. P2P technology isn’t alone in changing the lending industry, however.

P2P 55

P2P Venmo Zelle Same Day ACH 55

Fintech Labs Insights

OCTOBER 16, 2016

In a new partnership , Jack Henry & Associates has integrated with Visa to allow customers to send P2P payments directly to a recipient’s Visa debit card. The partnership enables banks to offer funds-transfers a day sooner, or even same-day. Capital One integration with Amazon Echo.

EMV 17

EMV P2P Same Day ACH FinTech 17

PYMNTS

MAY 4, 2017

In the P2P space, this means consumers these days have the ability to settle bills and deliver money to friends and family, well, fast. According to recent data , the Same Day ACH offering was used to make 1.8 million P2P transactions totaling $1.2 million P2P transactions totaling $1.2

Faster Payments 41

Faster Payments Venmo Zelle P2P 41

PYMNTS

JANUARY 16, 2020

Open banking and its promise of more elasticity in finance is enabled by application program interfaces (APIs) — lines of code that execute everything from simple peer-to-peer (P2P) transfers to industrial-sized B2B real-time payments.

API 53

API B2B Payment APIs and Integration Cross-Border 53

PYMNTS

JUNE 25, 2019

The second (and concurrent) leg of strategy will be to tokenize existing transaction flows, notably account-to-account activity, which includes ACH, Same Day ACH and real-time payment transactions. Ripple Effects. Tokenization can certainly help drive more confidence,” though it may not be a primary driver.

Transactions 79

Transactions Real Time Payments Same Day ACH Payments 79

Stax

APRIL 23, 2024

ACH payments usually consist of low-value payments and come in various forms, including: Mortgage payments Online bill payments Recurring payments, such as subscriptions Direct deposits Money transfers The ACH network is consistently growing, as more businesses are moving toward recurring billing and direct deposits with their funds.

ACH 88

ACH Direct Deposit ACH Network Wire Transfer 88

PYMNTS

SEPTEMBER 7, 2017

There is no doubt that in recent years, many innovations have occurred in the payments industry, such as P2P transfer, digital wallets, etc., We already see new capabilities, such as Same Day ACH. Hence, they’re more … front-end enhancements or additive features rather than being true disrupters or game changers.

Same Day ACH 46

Same Day ACH Fraud Detection Innovation Fraud Prevention 46

PYMNTS

MAY 22, 2018

The fact remains that all disbursements by businesses are still done, largely, through legacy means, as 80 percent of firms still send checks or use first-generation ACH — and don’t confuse Same-Day ACH with instant, as it is fast, indeed, but not that fast.

Push-to-Card 40

Push-to-Card Same Day ACH ACH Payments 40

PYMNTS

DECEMBER 31, 2020

This is the case for nearly 40 percent of consumers making tuition payments, 35 percent of those paying their contractors, and 25 percent of those making P2P payments. Key Data Points: Same-day ACH is used for only 29.2 percent of millennials believe it is “very” important to receive payments in real time. percent and 20.3

Innovation 111

Innovation Online and Mobile Banking Real Time Payments Cross-Border 111

PYMNTS

AUGUST 4, 2017

With various banks and FinTechs producing innovative solutions — like mobile banking and P2P tools aimed at improving the speed of payments — the pressure is on for community banks to keep up. faster payment system.

Community Banks 46

Community Banks Faster Payments Innovation Same Day ACH 46

PYMNTS

JANUARY 2, 2017

Considering how much business is conducted between the two countries, payments processing is incredibly inefficient, especially when compared to the ease of processing P2P transactions between the U.S. P2P remittances between the U.S. and other countries, Dunworth said. and India is extremely efficient, [between the U.S.]

Cross-Border Payments 42

Cross-Border Payments Cross-Border Payment APIs and Integration Blockchain 42

PYMNTS

MARCH 2, 2016

The reason faster payments is so important, Proto said, is because the four major quadrants of the payments industry — P2P, B2B, B2C and C2B — are all beneficially impacted when it comes to the expedited movement of money and data. When it comes to P2P payments, Proto pointed to a shifting consumer mindset and, in turn, adoption.

Faster Payments 41

Faster Payments NACHA C2B P2P 41

PYMNTS

MAY 5, 2017

New solutions like Ingo Money’s Instant Payments platform and NACHA’s Same Day ACH initiative are offering corporations digital alternatives to paper checks for funds disbursement. Push payments in particular deliver instant, safe-to-spend funds directly into a consumer’s account.

Checks 46

Checks Push-to-Card Debit Card Payments 46

PYMNTS

JULY 24, 2017

Free” in exchange for “keeping deposits” sticky isn’t exactly setting the world on fire on the P2P side of payments. NACHA has implemented ubiquitous Same Day ACH with credit push and will implement phase two with debit pull in the fall. Setting a sensible business model seems critical.

Fed 47

Fed Faster Payments Ubiquitous Same Day ACH 47

PYMNTS

MAY 5, 2016

We see the efforts of EWS/cXc and TCH as complimentary, their focus is first and foremost on enhancing the consumer experience of banks P2P offering, which is a highly competitive space for all banks.

Faster Payments 41

Faster Payments TCH Real Time Payments Payments 41

PYMNTS

DECEMBER 5, 2017

Direct deposits, push payments, eWallets, same-day ACH transfers, PayPal, Zelle and myriad other platforms and tools are now second nature. B2C, C2B, B2B and P2P: There are many ways that individuals and companies need to move money, and some have advanced more than others as agile new players enter the race.

Consumer 56

Consumer Same Day ACH C2B B2C 56

PYMNTS

MAY 4, 2018

Payments are moving toward greater speed, efficiency and choice – and in P2P payments, that’s led to the rise of financial technology giants. “P2P payments has not only one, but multiple ten-thousand-pound gorillas,” said Spottiswood. “B2B payments innovation seems to fall behind B2C and P2P,” she said.

Same Day ACH 46

Same Day ACH P2P B2B Cross-Border 46