ACH

The quest for fast payments is advancing on the consumer side, but most banks are said to be undecided about a host of issues tied to speeding up transactions between businesses.

The move from standard to real-time transactions adds another layer of complexity and creates further opportunities for fraudsters. Quicker transaction times increase the chances of fraudulent transactions going undetected, writes David Worthington, vice president of payments at Rambus.

Redwood CU's home-grown pay-by-text solution won a prestigious award recently, but the credit union is already looking at ways to build even more functionality into it.

Intuit has added new features to QuickBooks Payroll so employers can make payroll at the last minute, delivering same-day paychecks to workers with the option to make direct deposits to contract employees.

When EMV chip cards were launched in the U.S., the initial fear in the security and payment industries was that fraud would migrate to e-commerce. But the migration has actually moved further along to the more lucrative venue of real-time Fed-mandated ACH payments.

Financial institutions providing funds via the Fed's same-day ACH transfers need to their systems protect their customers, are commercially reasonable and, most important, follow strictly the protocols the financial institution has agreed to with its customer, writes Alexander Buchanan, counsel at Waller Lansden Dortch & Davis LLP.

Implementing an electronic payments solution isn’t about replacing one payment method (checks) for an electronic one—as in abandoning checks for ACH, writes Ralph Perdomo, a research analyst at Nvoicepay.

The Clearing House expected to take some time to introduce its new network to financial institutions and play up its benefits.

Nacha has completed the third and final phase of the faster payments launch, requiring banks and credit unions to make Same-Day ACH funds available to depositors by 5 p.m. in local time.

Though the Merchant Customer Exchange failed to deliver a consumer-facing mobile wallet for its mega-retailer backers, Buy It Mobility Networks (BIM) says the underlying technology it provided is still sound.

Even in 2018, when mobile commerce and mobile point of sale are commonplace, fintechs are able to find plenty of niches stuck in the past.

CFOs can give their accounts receivable valuable time back during the workweek when switching to an automated B-to-B payments solution, writes Ed Jordan, CFO of Billtrust.

Plenty of U.S. banks already have their own robust API programs, but research by Nacha, the electronic payments association, indicates that the differences in their approaches could slow the banks' ability to synchronize with global fintech development.

Handle Financial’s online bill-payment service Prism has turned on a new feature enabling consumers to pay bills in real time from any of 11,000 U.S. billers via credit or debit cards, even when those options aren’t directly supported by the biller.

As organizations look to AP to take on more strategic planning, budgeting, and cash management activities, they have to use automation to get rid of the manual, repetitive, non-value-added tasks they’re doing now, writes Brent Meyers, vice president of national sales for Nvoicepay.

Fears about regulators coming down on digital currency trading caused an epic crash in the market. But reining in this evolving asset class won't be easy.

Providing the default card in digital subscription services is one way banks can win back bill-pay business, save customers time and help them manage their data.

For all of the noise in the payments industry around transitioning to real-time and same-day digital payments — and in the mainstream media around the bitcoin craze — paper checks still persist as the preferred means of disbursement for the majority of business-to-business transactions.

Financial technology companies are reinventing every aspect of business finance, starting with payments. Banks have long promised to automate supplier payments for their customers, but have fallen far short, writes Brent Meyers, vice president of national sales for Nvoicepay.

As the banking industry moves closer to adopting a faster payments system, bank executives have begun to think through the impact it will have on clients and banks themselves.