Same-day ACH payments soar
Payments Dive
APRIL 20, 2023
The dollar value of same-day ACH payments nearly doubled in the first quarter as the volume increased 20.7%, Nacha said this week in a quarterly update.
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Payments Dive
APRIL 20, 2023
The dollar value of same-day ACH payments nearly doubled in the first quarter as the volume increased 20.7%, Nacha said this week in a quarterly update.
NACHA
JULY 17, 2024
HERNDON, Virginia, July 18, 2024 – Same Day ACH reached new heights of payment volume and value as the modern ACH Network posted significant volume and value increases in the second quarter of 2024, Nacha reported. billion ACH payments in the second quarter, an increase of 6.3% There were 8.3
Payments Source
SEPTEMBER 20, 2018
financial institutions have made same-day ACH funds available without seeing any major shifts in fraud. But observers warn that as same-day ACH introduces broader access and bigger transactions, it will become a bigger temptation for fraudsters. More than half of U.S.
PYMNTS
SEPTEMBER 17, 2018
NACHA — The Electronic Payments Association — announced that its membership has approved three new rules that will expand Same-Day ACH for all financial institutions and their customers. Funds from Same-Day ACH credits processed in the existing first window will be made available by 1:30 p.m. local time.
PYMNTS
JANUARY 26, 2017
The Electronic Payments Association (NACHA), steward and rule maker of the ACH Network, recently provided the Same Day ACH transaction volume data for September 23 to December 30, 2016. Direct deposit made up the largest segment of Same Day ACH transaction volume — some 52 percent, or 6.8
PYMNTS
SEPTEMBER 15, 2017
In a recent interview with PYMNTS’ Karen Webster, Jane Larimer, chief operating officer at NACHA, said the financial services industry has done much preparation in terms of enhancing systems and processing, in tandem with significant testing, after a smooth Phase 1 of Same Day ACH debuted last September. 2016 and July 2017.
PYMNTS
NOVEMBER 15, 2016
The Electronic Payments Association, NACHA, has released volume data tied to the first calendar month of same-day ACH transactions. For the month, Same Day ACH was responsible for 3.8 billion in payments volume. For the month, Same Day ACH was responsible for 3.8
PYMNTS
JANUARY 25, 2017
The Electronic Payments Association (NACHA), steward and rule maker of the ACH Network, just released findings from the Same Day ACH transaction volume data for Sept. Same Day ACH is an industry initiative toward faster payments. Direct Deposit comprised 52 percent of Same Day ACH volume, or 6.8
PYMNTS
NOVEMBER 16, 2016
NACHA, the payments association behind the ACH Network, said Tuesday (Nov. million Same Day ACH transactions occurred in October, the first full month after the initial Sept. The total value of those same-day payments came to $4.9 And, agreed Webster and Estep, B2B payments at 36 percent of volume (and $2.8
PYMNTS
FEBRUARY 7, 2017
NACHA wants to quell any anxieties about the rollout of Same Day ACH, and the latest data from the payments group should breathe new confidence in banks that have adopted the technology. The association released the latest data on the rollout of Same Day ACH thus far with a new report today (Feb.
PYMNTS
APRIL 17, 2017
According to the data, the number of ACH transactions in 2016 topped 25.6 2016 marked a significant year for the continued evolution and growth of the ACH Network,” said NACHA President and CEO Janet O. And it is this versatility that makes ACH payments a valued payment type and supports the continued growth of the ACH network.
PYMNTS
JUNE 6, 2017
NACHA, with its Same Day ACH offering, is leading the charge for faster payments in the U.S., This is the number of Same Day ACH transactions that flowed over the ACH network since launch in September of 2016. How fast is fast enough? And how fast will people get used to fast — as in faster payments?
PYMNTS
SEPTEMBER 15, 2017
In an interview with PYMNTS’ Karen Webster, Jane Larimer , chief operating officer at NACHA , said that the implementation of Phase 1 of Same Day ACH has gone smoothly, with a live debut last September. We’re seeing robust use of same-day ACH credits,” said Larimer. We are excited for this to go live.”.
PYMNTS
APRIL 6, 2016
The biggest firms in the nation are gearing up for same day ACH payments – an eventuality that could hit in September of this year. Firms are looking to use ACH across payroll and B2B functions. As smaller institutions prepare to receive same-day payments, they spot business opportunities.
PYMNTS
MAY 7, 2018
With Same-Day ACH now a reality in the U.S., In its analysis of the Same-Day ACH rollout, NACHA found no evidence that it led to an increase in fraud attempts or successful breaches. That doesn’t mean that fraud linked to ACH transactions is nonexistent, however.
FICO
MARCH 27, 2017
Today could be that day. Are banks truly ready for same-day ACH? Between the Same Day ACH initiative launch on September 23, 2016 and December 31, 2016, there were more than 13 million same-day ACH transactions. ACH is a different animal. How to fight back.
PYMNTS
AUGUST 4, 2016
Phase One of Same Day ACH will officially launch in the U.S. It was then that NACHA proposed the shift to settling three times a day, ve days per week, to give consumers and businesses access to more efficient transactions. That’s kind of the neat thing about Same Day ACH.
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. Impact On Same Day ACH Rollout.
The Paypers
FEBRUARY 9, 2017
(The Paypers) Around 90% of the surveyed banks report that the origination volume of the same day ACH has been higher than anticipated,a recent research study reveals.
Payments Source
JUNE 27, 2017
Particularly at risk are service providers with high volumes of automated or customer-initiated debit payments, such as cell phone service providers, utilities, cable companies, insurance, and retailers.
PYMNTS
SEPTEMBER 14, 2018
ACH Network volume surpassed 2 billion transactions in August, an increase of more than 10 percent compared to the previous year. The ACH Network is thriving, and has achieved a milestone of more than 2 billion payments in one month,” said Jane Larimer, chief operating officer of NACHA. In addition, close to 1.5
PYMNTS
JANUARY 28, 2020
While RTP emerged as a new payment rail to address payment friction, NACHA, which manages the ACH payment rail, announced that its newest service on the legacy payment network, Same Day ACH, is helping to accelerate adoption of the rail. Same Day ACH spiked an impressive 39 percent during Q4, hitting 71.3
PYMNTS
FEBRUARY 19, 2019
NACHA, the steward of the ACH Network, announced Tuesday (Feb. 19) that last year was a milestone year for the ACH Network with payment volume climbing to close to 1.5 In a press release , NACHA said it is the fourth year in a row that the ACH Network added more than 1 billion new payments. billion payments.
PYMNTS
NOVEMBER 5, 2018
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.”. NACHA said 43.2
PYMNTS
NOVEMBER 2, 2018
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. billion ACH debit and close to 2.4
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
PYMNTS
JANUARY 18, 2018
The volume of same-day automated clearing house (ACH) transactions is expected to rise over the coming months, BusinessInsider reported. According to a NACHA survey, 82 percent of financial institutions surveyed anticipate that Same Day ACH debit volume will grow at a rapid or steady rate.
Fintech Finance
AUGUST 19, 2024
According to the National Automated Clearinghouse Association (Nacha), same-day ACH volume saw a 47% year-over-year growth when comparing the first quarters of 2023 and 2024, due to factors such as the continual increase in real-time payments usage among consumers and businesses.
Nanonets
MARCH 20, 2023
There are also Next Day ACH transfers and Same Day ACH transfers available. Next Day ACH transfers typically settle within 1-2 business days, while Same Day ACH transfers can be completed on the same business day or the following business day, depending on when the payment was initiated.
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.
PYMNTS
APRIL 11, 2018
2017 marks another significant achievement in the evolution of the ACH Network, as transaction volume was exceptionally strong and Same Day ACH was made fully available,” said NACHA Chief Operating Officer and General Counsel Jane Larimer. GDP, with volume that is more than 66 times the number of people in the U.S.
PYMNTS
DECEMBER 13, 2017
In an age where faster is a hallmark of, well, everything, it follows that the same should be true of payments. Said Herd, additional findings reveal that there are some institutions that would like to offer Same Day ACH to their customers, but the processors or vendors that they rely on haven’t enabled it yet.
PYMNTS
MARCH 19, 2019
Data: March 19, 2012: Expected rollout date for a third Same-Day ACH (SDA) processing window. million: SDA transaction volume in Q4 2018. percent: Q4 increase in B2B transactions via the ACH network. Speaking of faster payments: Does the U.S. Federal Reserve have a hidden agenda?
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.
PYMNTS
FEBRUARY 5, 2020
While RTP emerged as a new payment rail to address payment friction, NACHA’s Same Day ACH is helping to accelerate the adoption of the rail. Payments value hit $55.8 trillion, up almost 9 percent from 2018. percent jump.
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.
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
PYMNTS
NOVEMBER 16, 2016
The total value of those same day payments came to $4.9 In an interview with PYMNTS’ Karen Webster, Jan Estep, NACHA’s president and CEO, said that “we had a lot of questions right after [same day ACH payments] launched, asking us ‘what is the volume,’ and we felt it was a bit more responsible to wait for the first full month.”.
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.
PYMNTS
SEPTEMBER 17, 2018
Welcome to Five at Five, your late look at the day’s payments and commerce news. Coverage includes the latest on Amazon’s brewing data scandal, along with news about same-day ACH. NACHA Approves Expansion o f Same – Day ACH. Amazon Investigates Claims That Employees Sell Data.
PYMNTS
APRIL 26, 2019
27 billion: Total ACH volume in 2018. consumers who can access Same-Day ACH and card rails. Data: 75 Percent: Share of consumers who say they prefer faster payments. 95 Percent: Share of U.S. 85 Percent: Share of gig economy workers who would work more often if they could get paid faster.
PYMNTS
DECEMBER 8, 2016
Less than two months after its implementation, Same Day ACH, the ubiquitous faster payments initiative for the payments industry in the United States, is showing a significant impact on the market, but it still has plenty to learn from those across the pond. In October alone, the ACH Network processed nearly $5 billion in 3.8
PYMNTS
FEBRUARY 8, 2017
In regions around the world, including Europe and Asia, faster payments are taking a hard look at how tools such as blockchain and Same Day ACH can help improve their business. In terms of opportunity, new data from NACHA puts an impressive dollar figure on the value of Same Day ACH transactions from credit cards.
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. .”
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