Post Tagged with: "NACHA"

$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

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

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 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

Fed Payments Panel Advocates Faster Payments

Fed Payments Panel Advocates Faster Payments

by August 14, 2014 at 11:41 am 2 comments

It seems ACH is too slow even for some bankers. Payments in the US lag behind much of the world and many Americans inside and outside of the financial services community would like to move their money more quickly. The Federal Reserve agrees, and convened a roundtable that determined theRead More