Payments News from Glenbrook Partners
Glenbrook   Book   Education   Views   Archives   Store   Advertise   About         SUBSCRIBE:

ACH

Welcome to the News View for "ACH".

Here, on these archive pages, you'll find all of the articles on Payments News for ACH listed in date sequence beginning with the most recent article at the top of the page.

Click here for a complete listing of what's available in the Payments News Archive - organized by both posting date and subject category.

Subscribe to Payments News!

December 11, 2014

Headline News from PaymentsNews.com - December 11, 2014

On the Web:

On the Wires:

  • American Express Creates New Technology Hub in Silicon Valley - “Technology innovation is driving the company’s ongoing digital transformation, and our team in Silicon Valley is focusing on core capabilities that we expect to be key to our ability to continue to innovate and move our business forward,” said Marc Gordon, Executive Vice President and Chief Information Officer. “By developing infrastructure and frameworks to be used broadly across the organization, the team in Palo Alto will play a crucial role in our global business growth and future success.”
  • American Express and Delta Extend Partnership - “We’re very pleased to extend our strategic partnership with Delta in a way that will deliver compelling value to our mutual customers and help to ensure that Card Members get more with Membership,” said Josh Silverman, President of Consumer Products & Services at American Express.
  • Bill.com Unveils New Solution to Accelerate Digitization of Payments for SMBs - “Our customers have told us they need a simple and secure solution for those times when they need to pay their vendors quickly,” said René Lacerte, CEO of Bill.com. “Fast Pay was developed in response to those unplanned or emergency situations. Now, SMBs in particular can rely on a seamless digital solution without the hassle of going to the bank to send wire transfers or scheduling pickups by FedEx or UPS.”
  • Blackbaud Welcomes Pete Kight to Board of Directors - "After founding CheckFree in 1981, Mr. Kight served as chief executive officer until its merger with Fiserv, Inc. in 2007. Under his leadership, CheckFree greatly expanded beyond its original core online bill payments business. At the time of its merger with Fiserv, CheckFree’s annual revenue exceeded $1 billion."

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

December 01, 2014

Headline News from PaymentsNews.com - December 1, 2014

Welcome to December!

  • It's hard to believe that we're down to the last month of 2014! It's been quite a year for payments! Has anything changed in your life this year about how you make payments? If so, tell me about it!

On the Web:

  • Payments on Fire Podcast #11 – Bitcoin, Banking, and Crypto 2.0 Approaches - PaymentsViews.com - "Glenbrook’s George Peabody discusses Bitcoin and blockchain evolution with Sean Safahi, co-founder and CEO of Bold Financial Technologies, a provider of math-based currency services to the banking industry."
  • Bankers: First Data IPO Rapidly Approaching - "The company, through its CEO Bisignano, has been suggesting that KKR wants to cash out of the investment in the next year if possible."
  • Health-Care EFT Transaction Volume Via the ACH Grows Nearly 180% in a Year - Digital Transactions - "The new volume flows through the ACH network under a business-to-business transaction code known as CCD+Addenda (for cash concentration or disbursement)."
  • What Happens When You Swipe Your Card? - CBS 60 Minutes - "Even the strongest banks in the world-- banks like JPMorgan, retailers like Home Depot, retailers like Target -- can't spend enough money or hire enough people to solve this problem."
  • Shopping on a Phone Is Still Uncommon but Growing Fast - New York Times -“These cellphones are with us all the time, so why should you be doing Christmas shopping only at home? Why shouldn’t you do it while you’re on the subway, waiting for the bus, at the cafe?”
  • PayPal Reports Record-Breaking Number Of Black Friday Shoppers And Sales On Mobile - TechCrunch - "Based on its online commerce data, the company reports having seen a 47% increase in PayPal global mobile payment volume on Thanksgiving compared with Thanksgiving 2013, and a 62% increase for Black Friday 2014 over last year."
  • Thanksgiving Weekend Sales, at Stores and Online, Slide 11 Percent - New York Times - "The results could show that “there are a significant number of Americans out there for whom the recession is not yet over,” said Matthew Shay, the group’s president and chief executive."
  • Credit Card Rewards: The Deals Get Sweeter - Wall St. Journal - “Issuers are getting more aggressive in terms of what they’re willing to dangle to acquire new customers,” says Curtis Arnold, founder of CardRatings.com, a credit-card comparison website. “It’s an arms race.”
  • Cashless Society? It’s Already Coming - New York Times - "When you are out shopping, it’s the wallet, not the credit card, that is the annoyance. It’s bulky. It can be forgotten, or lost. I’ve learned while traipsing about buying stuff with my ApplePay that I can whittle down wallet items that I need to carry to three..."
  • "Banks As Commodity Utilities In A New Payment World - TechCrunch - "To stay relevant, banks must embrace the technology-driven changes and look for new opportunities rather than protecting and preserving antiquated business models."
  • Are universal credit cards the next thing? - Geektime - "Coin recently started shipping their long awaited universal credit card to early bakers in the US, in a very overdue timing. But meanwhile, other universal credit cards companies entered the market, which makes you wonder if this is the next big thing."

On the Wires:

  • Intel Acquires PasswordBox, an Award-Winning Digital Identity Manager - “Everyone can relate to password fatigue. The PasswordBox service has already brought relief to millions of consumers who now enjoy simple, instant login,” said Chris Young, senior vice president and general manager of Intel Security Group.
  • BCG and SWIFT publish annual Global Payments report - "The aim of the report is to provide payments and transaction-banking institutions with a comprehensive overview of major business drivers shaping the industry. It also provides the reader with recommendations on which specific actions should be taken by various types of players in order to achieve or maintain market-leading positions. In today's competitive environment, financial institutions must differentiate themselves and bring value to continue to grow."

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

November 24, 2014

Headline News from PaymentsNews.com - November 24, 2014

On Twitter:

On the Web:

  • Chase Debuts First Spot Featuring Apple Pay - Ad Age - "We've been working with Apple for a long time -- over a year -- on this partnership," said Chase Chief Brand Officer Susan Canavari. "We thought about their values as well as ours, and we both focus on our customers."
  • Square will soon accept Apple Pay - CNN Money - "Square founder Jack Dorsey -- who also famously launched Twitter -- told CNN that he wants to help businesses accept all forms of payments, and Apple Pay is no exception."
  • 'Tis is the season for mobile shopping - Google Official Blog - "Starting this week, when you search for a specific product on your smartphone or tablet you’ll see more detailed information about the product and where to buy it, like which stores have it available and product reviews from customers."
  • Shoppers Go Mobile Black Friday Weekend - Google Shopping Blog - "To get a read on the trends heading into Black Friday, we took the temperature of holiday shopping online. We looked at search trends on Google, insights from Google Consumer Surveys and top trending purchases on our same-day delivery service, Google Express."

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

November 20, 2014

Headline News from PaymentsNews.com - November 20, 2014

On the Web:

  • Square Register App Now Available Worldwide - Square Blog - "Our free point-of-sale app, Square Register, is now available worldwide."
  • Why banks fear Bitcoin - Fortune - "In the case of Bitcoin, what is being enabled here is not merely a new market, but a market of markets; a platform for all kinds of new markets to emerge. In it, lies the promise of a transformation, as strange as it sounds, greater than the Internet."
  • Apple Is Coming To The Aid Of Small Retailers - TechCrunch - "With Apple Pay, the biggest hurdle – getting the customer to enter their card details into the app – has vanished and the onboarding process got so much easier. This is encouraging for small businesses, and this is not all that Apple has done to help them."
  • How Apple Pay stacks up against the retailers’ competing payment system - Quartz - "We’ll know soon if this battle is won before it’s even fought."
  • The Secret Life of Passwords - New York Times - "Many people use the same password for multiple accounts, and these passwords are typically personalized."

On the Wires:

  • Stratos: 30% of US Smartphone Owners to Use Apple Pay and Google Wallet during the Holidays - “Our research shows that while American smartphone users would like to use their smartphones to pay for gifts at department stores, they are less likely to want to use the same system to pay at a hotel, upscale restaurant, or a bar. Our findings show that Americans are more comfortable paying with their cards. We are excited to deliver connected cards to further improve the consumer in-store mobile payment experience - increasing spending using a familiar, universal accepted, dynamic card.”
  • BlueSnap Taps First Data for Payments Processing Around the World - "BlueSnap is an innovative company with a deep understanding of eCommerce and mobile payments," said Guy Chiarello, First Data president. "BlueSnap makes it easy for merchants to sell online with no additional development, and First Data makes payment transactions secure, fast and easy with the goal of helping our clients grow their business no matter their size or geography."
  • TSYS and linked2pay Offer Omni Payments for Merchants - "Large and small merchants across a variety of industries can deploy this payment option easily and quickly," said Chris McNulty, group executive of Sales, Business Development, & Client Relations, TSYS Merchant Solutions. "By bringing credit cards and ACH together seamlessly, our merchants can lower costs and decrease the number of paper checks they accept."
  • Merchant Advisory Group Joins X.9 Standards Organization - “We look forward to representing many facets of the U.S. merchant community within the X.9 standards group where we will have a true seat at the table to vote on the adoption of standards, which is something the merchant community lacks with other payments-focused groups.”
  • PayStand Streamlines Online Payments, Offers e-Check as Simple, Fixed Cost Alternative to Credit Card - "To initiate the new e-Check option for payment, users enter their bank login and password. Transaction fees are fixed, and start at 25 cents."
  • PayPal: Merchants Should Think Global This Holiday Season; Cross-Border Shoppers Out-Spend Domestic Shoppers by Double - “By identifying trade opportunities around the world, our research findings can help merchants tap into the expanding global marketplace,” said Anuj Nayar, senior director of global initiatives for PayPal. “In addition to research, we are also actively providing our merchants with tools such as PayPal PassPort and selling opportunities such as our China Singles Day program, to help them attract more business overseas.”
  • Wells Fargo Survey: Affluent Women ‘Enjoy’ Making Money - "A strong majority (93%) of affluent women “enjoy making and accumulating money” and more than half (53%) believe that money helps buy happiness, according to a new Wells Fargo survey of affluent women. Women have a strong sense of pride in earning money with 85% of them saying they feel proud about their earning power."

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

September 22, 2014

Headline News from PaymentsNews.com - September 22, 2014

On the Web:

On the Wires:

  • Citi Launches Citi Mobile Challenge to Fuel Digital Innovation - "Citi will provide developers with a suite of tools they can use to build solutions to benefit consumers either through mobile applications or the Internet of Things. Selected participants will present their concepts at demonstration events in Miami, New York and Silicon Valley and finalists will have the chance to take their technologies into production with the support of Citi."
  • Bank of America Changes the Game With Preferred Rewards - “Preferred Rewards is the first program of its kind to offer clients benefits and rewards for everyday banking,” said Dean Athanasia, president of Preferred and Small Business Banking and co-head of Consumer Banking at Bank of America.
  • U.S. Bank Encore Rewards Program for Small Businesses Blazes New Path for Industry - “This is the first time an American bank is giving small-business customers what they deserve: an easy way to earn rewards for combining their card purchasing and processing with one company,” said Cathi Stanton, head of small business credit cards at U.S. Bank.
  • Ingenico Group further expands global partnership with Elavon - "...Elavon has now selected Ingenico Group to be a key partner in supporting its migration to EMV-based payment processing infrastructures in the U.S. In addition, it has chosen Ingenico Group to run Fanfare, Elavon’s omni-channel marketing and customer loyalty program for small-to-medium size U.S. customers."
  • First Weekend Apple iPhone Sales Top 10 Million, Set New Record - “Sales for iPhone 6 and iPhone 6 Plus exceeded our expectations for the launch weekend, and we couldn’t be happier,” said Tim Cook, Apple’s CEO. “We would like to thank all of our customers for making this our best launch ever, shattering all previous sell-through records by a large margin. While our team managed the manufacturing ramp better than ever before, we could have sold many more iPhones with greater supply and we are working hard to fill orders as quickly as possible.”
  • Synchrony Financial Launches New Brand and Advertising Campaign: Engage with Us - Margaret Keane, president and CEO of Synchrony Financial, said, “After conducting extensive research with key stakeholders, we are proud to launch a Synchrony Financial brand campaign that truly represents who we are as a company and the value proposition we offer to our stakeholders."
  • New GSMA Report Sees North America Leading Mobile Investment and Innovation in the Developed World - “Our latest Mobile Economy report reveals how the widespread deployment of 4G networks in North America is creating a virtuous circle, stimulating adoption of new mobile technologies, applications and services that are unlocking new revenue streams for operators and enriching the mobile experience for consumers.”
  • BitFury Forms Strategic Advisory Board With Technology and Venture Industry Leaders - "BitFury Group, the leading Bitcoin infrastructure provider and Bitcoin transaction processing company, formed its strategic advisory board with two key appointments: Silicon Valley investor Jonathan Teo and former UMC Chairman and CEO Dr. Jackson Hu. BitFury also brought on Bob Dykes, founder and president of Tanjarine and former CFO of VeriFone, to its board of directors."

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

September 08, 2014

Headline News from PaymentsNews.com - September 8, 2014

On the Web:

On the Wires:

  • BitPay Opens Larger Amsterdam Office - “Europeans are familiar with multiple currencies and are at the forefront of mobile technology adoption, so it’s easy to see why bitcoin is popular and widely-used.”

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

August 28, 2014

Headline News from PaymentsNews.com - August 28, 2014

On the Web:

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

July 10, 2014

Headline News from PaymentsNews.com - July 10, 2014

On the Web:

  • Learnings from the Bitcoin Workshop - PaymentsViews.com (George Peabody) - "We are certainly intrigued by the capabilities of math-based currencies, but think it’s unrealistic to believe that they might quickly overtake incumbent payment systems that already work well for common use cases. We’re far more focused on identifying payments use cases that still exhibit significant points of friction that might be neatly lubricated by the application of MBC technology."
  • "State of Bitcoin Q2 2014 Report Reveals Expanding Bitcoin Economy - CoinDesk - "This State of Bitcoin Q2 report focuses on data and events in the second quarter of 2014 through to the present day."
  • U.S. Companies Step Up Business Conducted in Yuan - Wall St. Journal - "The yuan is making inroads with U.S. firms now because it is becoming more cost-efficient to pay in the currency. American importers can often negotiate better prices with Chinese suppliers if they agree to use yuan to make a purchase."
  • Safaricom opens M-Pesa to its rivals - Mobile World Live - "Other operators are being granted access for the first time to the all-powerful network of agents that underpin the dominance of mobile money service M-Pesa, according to Business Daily."
  • Button Wants To Bring Loyalty Rewards To The On-Demand Economy - TechCrunch - "With that funding, the team hopes to bring new cloud-based tools to mobile app makers that reward users for engaging in apps that they’re already using."
  • How Prepared is Restaurant Industry for end of Swipe & Sign? - Hospitality Technology - "EMV preparedness is on restaurants’ radar, with 70% of those surveyed agreeing that it is important to have a well-defined roadmap for EMV preparedness. When asked about their organization’s current approach to preparing, however, just 26% report having some form of road-map in place; likely due to the lack of a standard."
  • If you don’t have a bank account, how do you manage your money? - Boston Globe (Evan Horowitz) - "The most basic thing to keep in mind is that while these alternative financial services are regulated, they are not subject to the same regulations as banks are."
  • How ACH works: A developer perspective - Part 1 - Zenpayroll Engineering Blog - "I remember when we first started building ZenPayroll, we spent a many weeks struggling to understand how the ACH system works and learning how we can write software to tap into it."
  • How ACH works: A developer perspective - Part 2 - Zenpayroll Engineering Blog - "About 95% of the time, things go exactly as planned. This post will explain the other 5% cases (called ACH returns) and how they are handled."
  • How ACH works: A developer perspective - Part 3 - Zenpayroll Engineering Blog - "Parts 1, 2, and 3 of this series should give a pretty good overview of the ACH protocol at a high level, although for the sake of clarity, much has been simplified in these posts. There are tons more details and nuances that make ACH payments a very interesting problem."
  • Google Ventures launches $100 mln fund to invest in Europe - Reuters PE Hub - "We believe Europe’s startup scene has enormous potential. We’ve seen compelling new companies emerge from places like London, Paris, Berlin, the Nordic region and beyond—SoundCloud, Spotify, Supercell and many others."
  • IBM Wants to Invent the Chips of the Future, Not Make Them - New York Times Bits Blog (Steve Lohr) - "IBM’s research agenda is a recognition that the end of the silicon era of computing, using complementary metal-oxide semiconductor technology, or CMOS, is finally on the horizon."
  • Marc Andreesen and Jim Barksdale on How to Make Money - HBR Idealist - "The tech luminaries on bundling and unbundling in the digital age."

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

April 30, 2014

Headline News from PaymentsNews.com - April 30, 2014

On the Web:

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

April 24, 2014

Headline News from PaymentsNews.com - April 24, 2014

On the Web:

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

April 23, 2014

Headline News from PaymentsNews.com - April 23, 2014

On the Web:

  • SATOSHI'S REVOLUTION: How The Creator Of Bitcoin May Have Stumbled Onto Something Much, Much Bigger - Business Insider - ""For the first time, two people can exchange a piece of digital property, without any prior relationship, and in a secure way, over the Internet," Jeff Garzik, one of Bitcoin's core developers..."
  • Africa’s Tech Edge - The Atlantic - "How the continent's many obstacles, from widespread poverty to failed states, allowed African entrepreneurs to beat the West at reinventing money for the mobile age..."
  • It's Time for the Industry to Embrace Phased-In, Same-Day ACH - American Banker BankThink (Pat Thelen) - "As an industry, we're at a crossroads on whether to evolve or be left behind. If we choose not to evolve, we risk becoming irrelevant."
  • Beyond their breach - BillGuard Blog - "At this point, we might as well walk around with our credit card numbers plastered on our foreheads."
  • The Mobile Security Journey at Wells Fargo - Bank Systems & Technology - "With mobile adoption growing so fast and providing a constant touchpoint with customers (Wells’ mobile customers log in an average of 13 times each day), embedding security, without hurting the customer experience, is a top priority for the bank, Ajami shares."

On the Wires:

  • IDC Financial Insights Unveils Results from 2014 Consumer Payments Survey - "After several years of growth, the market for 'alternative' payment methods is now entering a period where adoption gains may come more slowly and where simply providing an alternative isn't enough. Instead, providers need to offer products that add value beyond the payment," said James Wester, practice director for Worldwide Payment Strategies and the author of the report.
  • Domino's Pizza® Now Accepting Payment via Google Wallet - "Google Wallet is a great technology that allows customers even more flexibility and convenience when it comes to paying for their Domino's orders."
  • Digital River Extends Its SMB Payments Solution to U.K. Merchants - "The solution offers small and medium enterprises, commerce providers, systems integrators and developers turn-key access to credit card processing capabilities for Visa, MasterCard and Maestro cards in Euros and Pound Sterling."
  • 2Checkout Appoints Shawn Budde as CEO - "Mr. Budde has more than 25 years of experience in the finance industry including executive roles at Citibank and Capital One; data analytics experience at Sears Holdings; and as co-founder and President at ZestFinance, a VC-backed technology company."

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

April 09, 2014

Headline News from PaymentsNews.com - April 9, 2014

On the Web:

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

April 08, 2014

Headline News from PaymentsNews.com - April 8, 2014

New on PaymentsJobs.com:

On the Web:

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

April 07, 2014

Headline News from PaymentsNews.com - April 7, 2014

On the Web:

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

March 25, 2014

Same Day ACH - A Step (or Lurch) Ahead...

PaymentsViews logo 140pxIn an article titled "Same Day ACH – A Step (or Lurch) Ahead" on our PaymentsViews.com blog, Glenbrook's Carol Coye Benson writes about last week's announcement by NACHA that it has plans for a phased introduction of same-day settlement for ACH. Carol spoke earlier today with NACHA President and CEO Jan Estep.

Carol writes:

For now, Estep emphasizes that this is the important settlement “layer” – and that products and services will be defined by financial institutions that can rely on the reduced counterparty risks enabled by this initiative. NACHA’s vision is that same day settlement will start with “push” credit transfers – for all ACH types, including P2P, payroll, bill payment and B2B. Receiving banks (RDFI’s in the ACH system) would be required to receive the transactions, and rules are expected to specify same-day posting to recipient accounts.

Be sure to read Carol's article and add your comments on NACHA's new initiative.

March 18, 2014

NACHA Reports Taking Steps Toward Ubiquitous, Same-Day ACH Settlement

NACHA logo 140pxNACHA announced today that "it is taking initial steps towards a ubiquitous, same-day ACH settlement capability. Through a “phased approach” to implementing new functionality, NACHA seeks to move the ACH Network from today’s single, next-day settlement to multiple, same-day settlement options that would be available for virtually any ACH Network transaction." Future rulemaking will be required to actually approve implementation of specific capabilities.

NACHA has conducted extensive work over the past year to outline the parameters and requirements of a ubiquitous, same-day capability for the ACH Network that enables financial institutions, large and small, to provide value to their end-users,” said Janet O. Estep, president and CEO of NACHA.

“A phased implementation enables us to introduce new capabilities more quickly, and then continue to build over time, creating value for all participants at each step along the way.”

“The concept of phased implementation is the result of thoughtful exploration of feedback we received over the past year,” said Estep. “This is the next step to help create a rule proposal for the industry to enable same-day ACH through the NACHA rulemaking process.”

NACHA's phased implementation proposes incremental functionality that would include multiple, new settlement windows, and greater certainty around faster funds availability.

  • As currently outlined, a first implementation phase would provide a foundation to better enable same-day ACH credits to support important use cases such as payroll, person-to-person (P2P) payments and expedited billpay.

  • A second phase would introduce same-day ACH debits and enable a wide variety of consumer bill payment use cases like utility, mortgage, loan and credit card payments.

  • A third phase would improve the service level across the ACH Network and reduce counter-party risk by adding a second same-day settlement and accelerating funds availability.

NACHA said it is launching a study to assess the industry’s costs and potential transaction volume for same-day ACH - including gathering specific facts around RDFIs’ investment and operating costs as a result of receiving same-day payments. The study also will fully explore ACH volume potential through detailed interviews and inputs. The information gathered on implementation capabilities, costs and volume will then inform a NACHA rulemaking that could occur as early as fall 2014.

March 14, 2014

Headline News from PaymentsNews.com - March 14, 2014

On the Web:

  • Accidental disruption: Max Levchin discusses how close PayPal was to never existing at all! - PandoDaily - "It’s often said that it’s better to be lucky than good. Fortunately for PayPal, Levchin, Thiel, and the company’s other early execs were both lucky and good."
  • Consumers Not Powerless in the Face of Card Fraud - New York Times - "The United States is such a fraud-friendly country in part because we still use old-fashioned magnetic stripes on the back of our cards. This makes it relatively easy for thieves to make counterfeit ones."
  • Xapo Raises $20 Million To Bury Your Bitcoin Underground - TechCrunch - "The wallet, said Wences, works like a checking account while the vault works like a savings account. They have no intention of ever becoming an exchange."
  • Wearing Apple - furbo.org (Craig Hockenberry) - "But the biggest feature of all would be that this wearable device could support iBeacon."
  • China Suspends Two Forms of Smartphone Payments - Wall St. Journal - "A People's Bank of China official who declined to be named said the bank issued a directive Thursday ordering the suspension of online payments using QR codes and virtual credit cards in smartphone payment systems."
  • Introducing Myself - Bitcoin Foundation (Jim Harper, Global Policy Counsel) - "To that end—prioritizing—I have already begun a study of the risks that Bitcoin faces and their severity, how to address them and, when possible, how to measure success or failure."
  • Buffett: ‘Stay Away’ From Bitcoin - Wall St. Journal MoneyBeat - He called it “a very effective way” of transmitting money, but said that “a check is a way of transmitting money, too.”

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

February 27, 2014

Headline News from PaymentsNews.com - February 27, 2014

Glenbrook's Payments Insight Workshop series this spring focuses on three key topics for payments professionals: Bitcoin - Basics and Beyond (March 26), Data in Payments (April 22) and Innovation in Payments (May 8). Offered in a small group setting in the San Francisco Bay Area, registration is now open for each of these workshops!

On the Web:

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

February 25, 2014

Headline News from PaymentsNews.com - February 25, 2014

Glenbrook's Payments Insight Workshop series this spring focuses on three key topics for payments professionals: Bitcoin - Basics and Beyond (March 26), Data in Payments (April 22) and Innovation in Payments (May 8). Offered in a small group setting in the San Francisco Bay Area, registration is now open for each of these workshops!

On Twitter:

On the Web:

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

January 24, 2014

Headline News from PaymentsNews.com - January 24, 2014

Next Glenbrook Payments Boot Camps: Feb 4-5 in Palo Alto, CA; March 18-19 in New York City. Alternatively, you can request a private Payments Workshop held on-site at your location.

On Twitter:

On the Web:

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

December 19, 2013

Federal Reserve Releases New 2013 Payments Study of U.S. Payment Trends

FedThe Federal Reserve has published the 2013 Federal Reserve Payments Study that examines noncash payment trends in the United States. The 2013 Study has been expanded to include new information related to various payment initiation methods and unauthorized payments. To provide perspective on consumer and business payment trends over the past decade, the results are compared to previous payment studies conducted in 2004, 2007, and 2010.

The 2013 study shows that card payments--credit and debit--now account for more than two-thirds of all noncash payments, while the number of checks paid continued to decline. Other highlights include:

  • The total number of noncash payments, excluding wire transfers, was 122.8 billion, a growth rate of 4.4 percent annually from 2009 to 2012. The rate of growth was down slightly from the previous 10 year (2003-2012) growth rate of 4.7 percent. The total value of noncash payments grew from $72.2 trillion in 2009 to just under $79 trillion in 2012.
  • The number of credit card payments, which had shown a decline in the 2010 Study, grew at an annual rate of 7.6 percent from 2009 to 2012. Debit card payments grew at a rate of 7.7 percent over that same period.
  • Automated Clearing House (ACH) growth slowed to 5.1 percent annually from 2009 to 2012, down from the average annual growth of 10.9 percent over the previous 10 years. From 2009 to 2012, the number of ACH payments as a percentage of total payments increased less than 1 percent while the value of ACH as a percentage of total noncash payments rose almost 10 percentage points, from 51.5 percent to 61.3 percent.
  • The number of checks paid continues to decline, falling to 18.3 billion, less than half the number a decade earlier (37.3 billion). Checks are increasingly being deposited as images, with 17 percent being deposited as an image at the bank of first deposit versus 13 percent as reported in the 2010 Study.
  • The 2013 Study estimates that there were 31.1 million unauthorized payment transactions in 2012, with a value of $6.1 billion.
The study was made possible by broad-based industry support and information sharing.

November 13, 2013

Headline News from PaymentsNews.com - November 13, 2013

On Twitter:

On the web:

  • Stress Test Prepares VisaNet for the Most Wonderful Time of the Year - Visa Viewpoints - "This year’s “mug number” – as we like to call it – is 47,000 transaction messages per second, which is a huge step forward from 2012’s peak capacity of 30,000 transaction messages per second!"
  • No plastic, no problem: Square does away with deposit limits for U.S. businesses - GigaOm - "Square is eliminating holds on funds taken from payments where no physical card is present."
  • How Big Banks Killed a Plan to Speed Up Money Transfers - American Banker - "The plan, known as Expedited Processing and Settlement, may not have been a step into 21st Century..."
  • EMV: America, What Took You So Long? - Emerging Payments Strategies (FIS) - "So why has the U.S. not embraced EMV sooner? Part of the reason is because our fraud problem, while significant, has typically been among the lowest rates in the world among highly developed economically mature countries."
  • What Android's KitKat means for NFC - Mobile Payments Today (Cherian Abraham) - "HCE means a lot more for private label issuers — who have a very inspired base of merchants looking to bridge the gap between private label cards and mobile — and now there is an alternative to clumsy, costly and complex orchestrations for provisioning cards."
  • The power of love - TMG Blog - "When I switched credit cards recently, I started feeling love the first time I logged into my personal account page. I noticed that things I had purchased only minutes before were already listed, which was something I’d never seen with my previous provider."
  • The challenge of being a Bitcoin trader - Financial Services Club Blog - "There is not attainable indication that the government understands Bitcoin correctly."

On the wires:

Updates from Glenbrook:

  • Looking for consulting help from Glenbrook? Let us know your needs here - and we'll get right back to you!
  • Join Glenbrook's Carol Coye Benson and Scott Loftesness for our Glenbrook Payments Boot Camp on December 10-11th in Palo Alto, California!
  • Glenbrook's Jacqueline Chilton will be speaking social media and payments at the W.net Northern California LINC Networking event being held November 14 at Google.
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Find something interesting to share? Tell us about it: gotnews@paymentsnews.com!

November 12, 2013

NACHA Invites Comments on Proposed Rules to Improve ACH Network Quality

NACHA logo 140pxNACHA has announced two proposed rules that it says are "complementary approaches to improving ACH Network quality by reducing the incidence of exceptions. As components of NACHA’s Risk Management Strategy, the proposed rules are intended to protect the safety, security and integrity of the ACH Network and the consumers, governments, businesses and financial institutions that move their money via ACH."

The NACHA Operating Rules provide for the safe, secure, and efficient exchange of electronic payments,” said Janet O. Estep, president and CEO of NACHA.

“These amendments provide new ways to reduce incidents of returned transactions and exceptions, thus increasing overall ACH Network quality. Through rulemaking efforts such as these, we look to continually improve our processes and strengthen ACH payments.”

The first proposal - the “ACH Network Risk and Enforcement” proposal - would improve NACHA’s ability to identify and enforce the Rules against “outlier” Originators that are responsible for the highest, and most disproportionate, levels of exceptions. The rule would also expand NACHA’s authority to initiate enforcement proceedings against Originators that introduce unauthorized transactions into the ACH Network. Further, the proposal would establish additional standards for the use of the ACH Network to collect debits returned for insufficient funds.

The second proposal - “Improving ACH Network Quality” - would establish economic incentives for Originating Depository Financial Institutions (ODFIs) and their Originators to improve origination quality, and provide partial cost-recovery to Receiving Depository Financial Institutions (RDFIs) for handling exceptions. By establishing economic incentives for specific types of exceptions, ODFIs would have direct incentives to implement processes and tools with their Originators to reduce the number of such returns and exceptions. ODFIs with the highest return rates would have the greatest incentives to work with their Originators to reduce those rates. By reducing exceptions in the ACH Network, the proposed rule would provide a cost-reduction benefit to RDFIs and improve their customers’ experience with ACH payments.

All NACHA Requests for Comments are open for public comment, and NACHA encourages responses from ACH Network participants, including financial institutions, service providers, business users, government entities, associations, and other interested parties. The comment period will last 60 days and end on January 13, 2014.

October 28, 2013

Headline News from PaymentsNews.com - October 28, 2013

On Twitter:

On the web:

On the wires:

Updates from Glenbrook:

  • Looking for consulting help from Glenbrook? Let us know your needs here - and we'll get right back to you!
  • Join Glenbrook's Carol Coye Benson and Scott Loftesness for our Glenbrook Payments Boot Camp on December 10-11th in Palo Alto, California!
  • Glenbrook's Elizabeth McQuerry will be speaking on New Payments Regulation in Brazil at the International Money Transmitter Conference in Miami, Nov 4-7, 2013.
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Find something interesting to share? Tell us about it: gotnews@paymentsnews.com!

October 07, 2013

Headline News from PaymentsNews.com - October 7, 2013

On Twitter:

On the web:

  • In Las Vegas, Alternative Currency Buffs Are Making The Case That Bitcoin WIll Do To Money What The Web Did To Information - "Bitcoin today is in a similar state that the Internet was in 1992. It's functional and useful, but the great use cases are only just now happening. It's only going to get better and better."
  • India’s audacious plan to bring mobile payments to the masses: pair them with a national ID card - Quartz - "Nandan Nilekani, a founder of Infosys and the man in charge of the Aadhar scheme, suggested last week that the platform the cards run on will be extended to include peer-to-peer money transfers."
  • Ripple Takes on Western Union With Deal to Grow Payments - Bloomberg - "Ripple, a San Francisco-based startup, operates payments software and a digital currency that resides in a consumer’s account known as a Ripple Wallet. Under the agreement, Ripple will let consumers link those Wallets to ZipZap accounts."
  • Apple's Mobile Commerce Mojo - Pymnts.com (Karen Webster) - "Well, we don’t think they’re right and the little slide deck that is attached gives you 7 reasons why Apple is the last company on earth that should be written off as a loser in mobile commerce."
  • Fraud Happens. So What Do You Do? - Portals and Rails Blog (Douglas King) - "The important takeaway I got from this report is that no matter the technology or standard used on payment cards, it remains critical to keep personally identifiable information protected and to continue to educate consumers about sound payment practices."
  • The Evolution of Electronic Payments - "This infographic created by SwitchPay, a mobile payments company, visually represents the evolution of electronic payment technology from the first mention of the credit card in a novel published in 1887, the birth of ecommerce from the first online purchase, to the advancement of mobile payment technology."

On the wires:

Updates from Glenbrook:

  • Looking for consulting help from Glenbrook? Let us know your needs here - and we'll get right back to you!
  • Join us for our new series of Glenbrook Payments Boot Camps coming this month - 8th/9th in the San Francisco Bay Area and 23rd/24th in New York City!
  • Glenbrook's Allen Weinberg and Erin McCune will be at Money2020 in Las Vegas October 6-10 - please reach out to them directly to catch up in person or set up a briefing at the conference. Erin will be moderating an Invoicing, Billing & Collections panel with Bill.com CEO Rene Lacerte, Billtrust CEO Flint Lane and Billhighway Chairman Vince Thomas.
  • Glenbrook's Elizabeth McQuerry will be speaking at this year's NACHA Global Payments Forum on October 17-18 in New York City. She'll be speaking on the topic "Mobile Payments, Interoperability & Faster Funds Transfer".
  • Glenbrook's Carol Coye Benson will be speaking at this year's American Bankers Association Annual Convention on October 20-22 in New Orleans. She'll be participating in a panel discussion on The Future of the Payments Industry.
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Find something interesting to share? Tell us about it: gotnews@paymentsnews.com!

June 11, 2013

Headline News from PaymentsNews.com - June 11, 2013

On the web:

On the wires:

Upcoming from Glenbrook:

  • Summer Camp! - A special summer session of our popular Payments Boot Camp - in Half Moon Bay on August 6th and 7th... Also, an optional half day course on Data In Payments - August 8th, also in Half Moon Bay. Join Carol, Scott and Russ for lively, interactive sessions - register now!
  • Follow Glenbrook Partners on LinkedIn! -

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Find something interesting to share? Tell us about it: gotnews@paymentsnews.com!

June 10, 2013

The Moves Toward Faster Payments

GP Logo Horizontal 140pxGlenbrook's Elizabeth McQuerry sends this note along:

Here at Glenbrook we’re closely following the moves toward faster payments taking place around the world. Nearly a year has passed since the NACHA community said "no" to speeding up the U.S. ACH (see Carol Coye Benson’s take on that vote here) but the discussion has not let up.

Now the folks at Digital Transactions have picked up the debate in their June edition, presenting views on why the NACHA initiative did not pass, why there is a need for speeding up the payments process, and the risks associated with faster payments.

What’s next? Recently we presented the views of other "payments geeks" on this topic as you had shared them with us. The article cites NACHA CEO Jan Estep: “Developing a ubiquitous solution, available to all financial-institution endpoints, is the goal”.

What are you seeing in the market? Are we getting closer to defining a clear direction for speeding up the tried-and-true but dinosaur-speed messaging and settlement that typifies retail payments in the US today?

May 24, 2013

Headline News - May 24, 2013

On the web:

On the wires:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated.

May 22, 2013

Direct Payment via ACH is the Leading Consumer Bill Payment Method in US

NACHA logo 140pxAccording to a study of 1,000 billers released by NACHA, Direct Payment via ACH is the leading method consumers in the US currently use to pay their bills.

The study found that the great majority of billers – more than three-quarters of those that offer electronic payment options – offer Direct Payment via ACH with almost 50% of consumer bills paid through this method. Of the rest, 42% percent of consumer bills are still paid through the mail, and 11 percent are paid with credit/debit cards.

The findings also show that billers prefer receiving ACH payments over cards 48 percent to 21 percent. Specifically, billers prefer recurring ACH payments, citing this option as the most favorable payment method.

Consumers, on the other hand, prefer one-time ACH payments for bill pay. Of the 47 percent of consumer bills paid via Direct Payment, 25 percent are one-time ACH payments, 11 percent are recurring ACH payments, and another 11 percent are ACH payments originated by biller service providers.

Direct Payment via ACH provides the control, security, and simplicity that consumers are looking for when paying their bills,” said Janet O. Estep, NACHA president and CEO.

“Additionally, for billers, Direct Payment via ACH transactions provide costs savings, improve operating efficiencies, and make a positive impact on the environment. There are still many checks being mailed today, so there is a significant opportunity to increase Direct Payment adoption, and during May – Direct Deposit and Direct Payment via ACH Month – we direct both billers and consumers to the available resources and proven practices expanding Direct Payment usage.”

NACHA says that financial institutions have an important role for expanding Direct Payment. Billers in the study report positive results from cross pollination efforts, where billers and banks combine marketing efforts.

May 16, 2013

Headline News - May 16, 2013

On the web:

On the wires:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated.

Payments News on Facebook
Glenbrook Partners

PAYMENTS NEWS IS PRODUCED BY AND IS A SERVICE MARK OF GLENBROOK PARTNERS, LLC
ISSN 1556-4487

Glenbrook's Consulting Services

  • Innovation and Strategy
  • Payments Product Development
  • Payments Market Assessments
  • Payments Vendor Selection
  • Merchant Payments Optimization
  • Payments Risk Management
  •  
  • To discuss how Glenbrook can
    help you
    , email us:

Glenbrook's Payments Education

  • Payments Boot Camps
  • Payments Essentials Webinars
  • Private Payments Workshops
  •  
  •  
  •  
  •  
  • For more information on Glenbrook's payments education, email us:

Tools for Payments Professionals

  • Glenbrook Writings
  • Payments News
  • Payments Views
  • Payments Jobs
  • Payments Education
  • Payments Bookstore
  •  
  • To send us news that you'd like us to cover on Payments News, email us:

Contacts:                        
Compilation Copyright © 2002 - 2014 Glenbrook Partners LLC. All Rights Reserved.
Terms of Use        Privacy Policy        RSS Feed        Payments News RSS Feed

Subscribe to Payments News   

Follow Payments News on Twitter for Real-Time Updates