Converging ACH and Wire Transfer Systems
The Aite Group has published a new report titled "Converging Wire Transfer and Automated Clearing House (ACH) to Revolutionize U.S. Electronic Wholesale Payments" that concludes the US payments industry could save $7 billion annually if the two systems were converged into a single electronic system. According to Aite, "converging the wire transfer and ACH systems will provide optimum payments capabilities and services, significant cost savings, and revenue-generating opportunities."
Is there any documentation as to the feasibility of actually combining the two systems? I know that anything is technically possible, but is it a simple integration or something that will have to be pushed hard by the industry?
Posted by: PaySimple | February 19, 2007 at 12:11 PM