PYMNTS

OCTOBER 6, 2020

This week's look at payment rail innovation is all about digitization and payments acceptance. Boost Payment Solutions is teaming with Visa for commercial payments acceptance, while EE is joining forces with Square to help U.K. merchants accept touch-free payments.

Contactless Payments 96

Contactless Payments Innovation NACHA ACH 96

PYMNTS

NOVEMBER 3, 2016

Today’s consumers increasingly expect payments to be processed quicker than ever before, and insurance companies are turning to newly introduced faster payment initiatives, such as Same Day ACH, to accommodate the demand. Maximizing Same Day ACH opportunities. Overcoming the antiquated.

Faster Payments 72

Faster Payments Same Day ACH ACH Payments 72

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

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.

Faster Payments 49

Faster Payments Same Day ACH NACHA ACH 49

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

DECEMBER 3, 2020

According to Tech In Asia reports, Visa is also working with Velo Labs Technology and Lightnet Group to develop new payment solutions for small businesses across Asia, allowing small and medium-sized businesses (SMBs) to use Velo's digital tokens as collateral to get a loan or receive a line of credit. Iceland Debuts Instant Payments.

B2B 88

B2B NACHA Innovation Nacha Operating Rules 88

PYMNTS

JANUARY 26, 2021

has been working with banks and corporates on faster payment solutions for some time, and recently began developing a new set of resources to boost this effort. Nacha , the rulemaking entity for the Automated Clearing House networks in the U.S.,

RTP 109

RTP Real Time Payments NACHA Same Day ACH 109

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

FEBRUARY 20, 2019

19), KyckGlobal said it has rolled out is platform for businesses to strengthen their relationship with 1099 workers by simplifying payouts and boosting transparency in the payment, tax management and document storage process. ” The gig economy is expected to be one of the largest adopters of faster and digital payment solutions.

On-Demand 51

On-Demand Same Day ACH Alternative Payment Methods PayPal 51

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

Finovate

OCTOBER 15, 2024

The company launched the new entity, Payfinia , to provide instant payment solutions to both financial institutions and third-party organizations. Payfinia aims to help financial institutions access and establish ownership of their instant payments services. Tyfone announced the formation of a new spinout today.

Instant Payments 52

Instant Payments FedNow Same Day ACH Federal Reserve 52

PYMNTS

SEPTEMBER 14, 2018

Data from NACHA — The Electronic Payments Association shows that roughly 6 percent of the two million same-day ACH transactions made in the first 11 days after its launch were B2B transactions, signaling room for growth.

Cross-Border Payments 49

Cross-Border Payments Cross-Border Risk Same Day ACH 49

PYMNTS

NOVEMBER 2, 2016

Today’s consumers increasingly expect payments to be processed quicker than ever before, and insurance companies are turning to newly introduced faster payment initiatives, such as Same Day ACH, to accommodate the demand.

Faster Payments 74

Faster Payments Same Day ACH NACHA Payments 74

PYMNTS

JANUARY 15, 2018

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. Use of faster payments technologies, too, remains limited in the B2B sphere.

B2B 55

B2B Same Day ACH Innovation NACHA 55

PYMNTS

JANUARY 12, 2017

As faster payments solutions aim to offer financial institutions and banks a quicker means of exchanging money, a potential roadblock awaits their successful adoption. Not so much, said Richard McShirley, CMO of linked2pay , a provider of cloud-based payment solutions. Namely, are banks ready to take the risk?

Faster Payments 41

Faster Payments Same Day ACH Payment Solutions ACH 41

PYMNTS

JUNE 29, 2018

In particular, a heavy volume of both B2C payments (consumers paying premiums to insurance companies, as well as insurance companies sending claim payouts to individuals) and B2B payments (insurance companies paying service providers) pave the way to a complex mix of payment rails.

Faster Payments 40

Faster Payments Same Day ACH ACH Remittance Data 40

PYMNTS

FEBRUARY 6, 2020

In today’s market of real time, legacy payments infrastructure needs a facelift. What will be crucial for new payment solutions, like those under development by Transparent Systems, to understand is that disrupting B2B payments isn’t just about offering a better payment rail.

Settlement 67

Settlement B2B Same Day ACH ACH 67

PYMNTS

OCTOBER 21, 2019

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.

Faster Payments 40

Faster Payments Automation Same Day ACH RTP 40

PYMNTS

AUGUST 4, 2017

“Speed and convenience certainly have become priorities for customers these days,” Giorgio said. Faster Payment Options For SMBs. With the platform in place, ICBA members can easily access ACH solutions, remote deposit capture and card payment transactions. Faster Payments Are Here To Stay’.

Community Banks 46

Community Banks Faster Payments Innovation Same Day ACH 46

EBizCharge

SEPTEMBER 17, 2024

These reliable and cost-effective transfers are integral to the modern financial landscape, facilitating high-volume, low-cost transactions that are often processed on a next-day or same-day ACH transfer basis. That said, ACH transfers do come with some limitations. What is an ACH transfer limit?

ACH 52

ACH Same Day ACH Electronic Funds Transfer (EFT) Direct Deposit 52

PYMNTS

DECEMBER 31, 2019

Businesses can also look beyond their banks’ traditional solutions. FinTechs provide many services that can streamline firms’ AP processes, and almost one-quarter of businesses reportedly plan to boost their use of FinTech payment solutions in the next three years.

Process 61

Process Innovation Same Day ACH B2B 61

PYMNTS

AUGUST 15, 2018

25,000: The transaction limit size for same-day ACH. 61 percent: Share of consumer spending using co-op credit cards during Prime Day. And for the operators of credit unions nationwide, it might mean teaming up to take on common concerns. 870 million: Number of active users Alipay boasts.

Same Day ACH 40

Same Day ACH Credit Union Transaction Limits Faster Payments 40

PYMNTS

DECEMBER 4, 2019

It’s a move that supports both the use of existing rails to upgrade payment capabilities as well as the establishment of new payment networks.

B2B 52

B2B RTP Cross-Border FPC 52

PYMNTS

SEPTEMBER 17, 2019

A series of payment innovations are promising to put an end to some common B2B payment frictions, including online portals, same-day ACH and automated accounts receivables (AR). Many B2B payments rely on invoices to communicate the payment amount expected and to reconcile the transaction.

Same Day ACH 52

Same Day ACH B2B Payments ACH 52

PYMNTS

AUGUST 3, 2017

Detecting fraud early and efficiently is a growing concern for all parties as faster payments rise. A separate report from fraud prevention solutions company GIACT points to potential fraud risks that could arise when Same Day ACH debits roll out in September 2017.

Community Banks 46

Community Banks Faster Payments NACHA Cross-Border Payments 46

PYMNTS

SEPTEMBER 19, 2019

Real-time and other emerging payments systems are getting increased attention, as nearly half of corporates are using or interested in using new payment services, according to Bottomline Technologies’ research. Among these new services, the top focus is real-time payments (55 percent), followed by same-day ACH (44 percent).

B2B 53

B2B Innovation Real Time Payments Same Day ACH 53

PYMNTS

OCTOBER 11, 2018

With companies paying suppliers on strategic schedules, real-time transactions aren’t always necessary — or beneficial — for the B2B payments space. Yet there is some adoption of faster payment technologies among corporates. The forecasted growth for the real-time payment solution market through 2022 is 100 percent.

Faster Payments 60

Faster Payments Economy Real Time Payments Online and Mobile Banking 60

PYMNTS

OCTOBER 8, 2019

Many businesses cling to traditional payment methods like paper checks, even while faster and more modern alternatives, such as digital wallets and Same Day ACH, are available to them. UMB Bank Advocates For The Adoption Of AP Automation.

Automation 54

Automation Same Day ACH Wire Transfer Push-to-Card 54

PYMNTS

SEPTEMBER 8, 2016

Same Day ACH is on the cusp of entering the market, blockchain startups are making their visions a reality with bank partners and the financial services industry as a whole, it seems, is ready to make payments faster and more digital. But in B2B payments, are corporates ready to participate in this new ecosystem?

Same Day ACH 40

Same Day ACH ACH Payments AFP 40

PYMNTS

MAY 26, 2016

Beanstream is a payments technology firm that is the latest to enter the U.S. “All of these additional trends will emerge from that now that you have a more acceptable payment timeline,” Stewart added.

B2B 40

B2B Same Day ACH ACH Faster Payments 40

PYMNTS

FEBRUARY 22, 2017

.” The CEO also noted that many of Fiserv’s latest offerings center around the theme of payments speed. “We’ve got more than a handful of organizations right now using Alexa for everything from checking balances to initiating payments,” reflected Yabuki.

NACHA 51

NACHA Same Day ACH ACH Innovation 51

PYMNTS

MAY 4, 2017

According to recent data , the Same Day ACH offering was used to make 1.8 billion in Q4 2016, the first full quarter of Same Day ACH Credit availability. Among the more popular players in the P2P space is Venmo, a mobile payment platform owned by PayPal. million P2P transactions totaling $1.2

Faster Payments 41

Faster Payments Venmo Zelle P2P 41

PYMNTS

JUNE 10, 2016

A recent white paper by NACHA , the mobile payments alliance, developed in tandem with the Payments Innovation Alliance Mobile Wallet Team, found significant value in the cloud for emerging payment solutions. TO DOWNLOAD THE NACHA MOBILE WALLET WHITE PAPER, FILL OUT THE FORM BELOW: [contact-form-7].

NACHA 40

NACHA Same Day ACH Deposit Account Enrollments 40

PYMNTS

SEPTEMBER 13, 2018

This embrace comes as corporates are just starting to work with faster payments. Data from NACHA – The Electronic Payments Association shows that roughly 6 percent of the two million same-day ACH transactions made in the 11 days since launch were B2B transactions, signaling room for growth.

Cross-Border Payments 40

Cross-Border Payments Cross-Border Risk Same Day ACH 40

PYMNTS

JANUARY 2, 2017

It was a busy year throughout the world of payments, with plenty of new technology making headlines along the way. As the year opened, our inaugural Faster Payments Tracker™ looked at the looming arrival of the new Same Day ACH. FASTER PAYMENTS TRACKER. But what if there were other, “sexier” solutions?

ACH 49

ACH Online and Mobile Banking Cross-Border Same Day ACH 49

PYMNTS

OCTOBER 23, 2019

Meanwhile, both PNC Bank and Bank of America introduced new solutions designed to ease friction in B2B payments by embracing a range of existing rails. It’s both a show of support for a new rail like RTP, as well as for the strategy to improve upon legacy rails like ACH.

Faster Payments 40

Faster Payments B2B RTP ACH 40

PYMNTS

APRIL 20, 2016

Digital payment solutions may be taking off in the AR department, but not all electronic payment tools are created equal. Same-day ACH is on the way, and while Tchakarov said some companies are interested in learning more about it, he doesn’t expect it to have much of an impact on the AR process.

Commercial Card 40

Commercial Card ACH Push-to-Card Same Day ACH 40