ACH

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.