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On the retailpayments side, online and mobile banking have transformed how accountholders access and action their money while keeping that access and those actions secure — and that accountholder relationship sticky. ACH rails now settle same-day, three times a day.
Consumers know that payment methods bearing their brand are accepted at tens of millions of merchants globally and that when they use those products, they work reliably. Retailpayments innovators have tapped into that ubiquity-driven certainty to enable new use cases that extend their reach. That creates certainty.
SameDayACH became a reality in 2017 after the National Automated Clearing House Association (NACHA) introduced its faster payments infrastructure to the market. In addition, innovators the world over are exploring how technologies like blockchain could address payments speeds and efficiency on an international level.
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-dayACH transactions made in the 11 days since launch were B2B transactions, signaling room for growth.
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