Post Tagged with: "ACH"

$5 Billion in Same-Day ACH Payments Done Last Month

$5 Billion in Same-Day ACH Payments Done Last Month

by November 15, 2016 at 12:32 pm 1 comment

3.8 million same-day ACH transactions took place last month for a grand total of $4.98 billion transacted, according to data released today by NACHA—the National Automated Clearing House Association, otherwise known as the governing body behind the ACH Network. These numbers are the result of the first month in whichRead More

Dwolla to Exit Consumer Space, Focus on API Offerings

Dwolla to Exit Consumer Space, Focus on API Offerings

by November 11, 2016 at 1:50 pm 1 comment

Dwolla, one of the elder statesmen of the fintech startup world, announced today it will leave the consumer space and focus on its offerings for businesses. The change will take place soon — Dec. 7. As the Des Moines, Iowa-based company put it in a blogpost: Dwolla is no longerRead More

How Will Same-Day ACH Affect Banking?

How Will Same-Day ACH Affect Banking?

by September 23, 2016 at 12:30 pm 1 comment

Slowly but surely, the waits are disappearing in banking. Mobile banking means you don’t have to wait on line at a branch (not that there would be a line these days if you went there). Accounts can be opened within minutes, and loans are approved more quickly. Perhaps most crucially, paymentsRead More

Fintech Companies Prepare for Same-Day ACH

Fintech Companies Prepare for Same-Day ACH

by August 4, 2016 at 2:20 pm 3 comments

On Sept. 23 a major milestone in the journey toward faster payments will be reached: New rules will go into effect that will enable the same-day processing of ACH payments. Vendors are working to make sure banks are ready to take advantage. Adam Anderson, CTO of Q2, a provider of cloud-based banking software, said thatRead More

PayPal Responds to Visa Threats, Sort of

PayPal Responds to Visa Threats, Sort of

by June 2, 2016 at 10:19 am 1 comment

Last week, Visa’s Chief Executive Charles Scharf went on a bit of a rant describing the complicated relationship between PayPal and payment networks. At a different conference yesterday, Dan Schulman, PayPal’s chief executive, didn’t seem concerned about the dire warnings coming from Visa: I know that there has been a long historyRead More

Will Realtime Payments Bring Real Money for Banks?

Will Realtime Payments Bring Real Money for Banks?

by April 20, 2016 at 4:49 pm 4 comments

Should consumers and businesses pay for realtime payments or not? This difference of opinion is apparently creating some “discord” in the clearXchange network between the first two active members: U.S. Bank and Bank of America. Speaking to investors this morning, U.S. Bank CEO Richard K. Davis spoke on the importance ofRead More

Dwolla Launches Updated API for ACH Transactions

Dwolla Launches Updated API for ACH Transactions

by February 4, 2016 at 10:11 am 2 comments

It’s now easier and faster than ever to hook into the ubiquitous Automated Clearing House network, thanks to Dwolla. With the new version of its bank transfer API, released yesterday, Dwolla may not be able to speed up ACH settlement times, but everything else about the experience should be faster for impatientRead More

Dwolla Is ‘Happy to Be the Pipes’ of the Payment System

Dwolla Is ‘Happy to Be the Pipes’ of the Payment System

by September 3, 2015 at 12:17 pm 2 comments

Not so long ago bankers feared that fintech insurgents like Dwolla wanted to turn FIs into “dumb pipes” moving money around while the fintechs would own the customer experience. Payments platform Dwolla, for one, has moved past wanting to own the customer. “We’re happy to be the pipes,” CEO BenRead More

The Disappearing Check: How Long Until the End?

by May 7, 2015 at 7:46 am 4 comments

“The remaining lifetime of the check is directly related to the death rate among citizens over age 65.” That comment from one of our overseas partners sums up a common perception of check usage in America, and for that matter, anywhere else. Paper checks are going away — they’re anRead More

BBVA Compass and Dwolla Launch Realtime Payment Service [Video]

BBVA Compass and Dwolla Launch Realtime Payment Service [Video]

by April 8, 2015 at 11:22 am 2 comments

Money movement service Dwolla and BBVA Compass Bancshares, the Birmingham, Ala.-based bank, have struck a deal to provide a realtime payment service. Called FiSync, the service is said to move money “faster than a web page takes to load” for BBVA Compass account holders making payments. FiSync launched today. DwollaRead More