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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.

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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!
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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.

April 24, 2013

Headline News - April 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.

April 23, 2013

A Vote of Support for Same Day ACH in the US

ICBA logo 140pxThe Independent Community Bankers of America® (ICBA) has released a new white paper - “Same-Day ACH: An Opportunity for Leadership” - expressing its support for same-day ACH capabilities and encouraging community banks and other institutions to adopt same-day ACH services.

“Same-day ACH capability helps community banks stay at the center of serving their customers’ payment needs, particularly as they strive to remain competitive in their marketplace, where same-day payments are already supported in many cases,” said Bill Loving, ICBA chairman and president and CEO of Pendleton Community Bank in Franklin, W.Va. “ICBA strongly believes that an accelerated transition to same-day ACH is vital to all financial institutions and customers.”
Last August 2012, NACHA’s membership did not approve the Expedited Processing and Settlement Rule that would have supported the same-day settlement of Automated Clearing House (ACH)transactions as a ubiquitous capability of the ACH network. (See Glenbrook's Carol Coye Benson's commentary on that vote in her PaymentsViews.com post: Bankers to NACHA: 1978 Is Modern Enough for Us!)

April 22, 2013

Glenbrook at NACHA's Payments 2013 Conference in San Diego

NACHA logo 140pxNACHA's Payments 2013 Conference is underway this week in San Diego. Glenbrook's Erin McCune, Elizabeth McQuerry and George Peabody are attending - be sure to reach out to them if you're also attending Payments 2013!

Lots of tweets are coming today on Twitter from Payments 2013 attendees - you can follow along by searching for the hashtag #payments2013 and by following @NACHA_Payments.

April 17, 2013

Headline News - April 17, 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.

April 10, 2013

NACHA Announces 2012 ACH Annual Volume Statistics

NACHA logo 140pxNACHA — The Electronic Payments Association has published its annual summary of the largest originators and receivers of ACH payments in 2012. Wells Fargo was the #1 originator in 2012 while Bank of America was the #1 receiver.

Total ACH payment volume grew to over 21 billion transactions in 2012, up 4.19 percent over 2011 representing a total of $36.9 trillion, an increase of 8.76 percent. That rate equates to over 660 ACH transactions per second over the full year with an average ACH ticket size of about $1760 per transaction.

Native electronic payments — those payments which start as an electronic payment (i.e., non-check conversion applications) — increased 6.38 percent over 2011. These payments now make up 85 percent of total ACH Network volume. Conversely, check initiated transactions decreased by 6.75 percent.

“This data clearly shows that consumers and businesses choose electronic payment options over paper checks,” said Janet O. Estep, president and CEO of NACHA. “Direct Deposits and Direct Payments via ACH provide the convenience, control, and flexibility that end users want. As end user needs evolve, the ACH Network will continue to enable the innovation necessary to meet the changing needs of ACH Network participants.”

March 04, 2013

Federal Reserves Announces Expansion of FedACH SameDay Service

FedThe Federal Reserve has announced that, effective April 1, 2013, it will offer an expanded FedACH SameDay service for same day clearing of ACH transactions. The expanded service will feature the following modifications:

  • Permits all SEC Codes except International ACH Transactions (IAT), Check Truncated Entry (TRC) and Check Truncated Entries Exchange (TRX)
  • Allows credits as well as debits
  • Accommodates business as well as consumer transactions
  • Places no dollar cap limits other than those set by NACHA on check-conversion transactions

Participation in the service will continue to be on an opt-in basis, and there will be no changes to pricing or deadlines.

February 14, 2013

November 27, 2012

New NACHA Rule Supports Electronic Health Care Claims Payments via ACH

NACHA logo 140px NACHA announced that its membership has adopted a new health care payments rule as part of the NACHA Operating Rules.

“Any health care provider with a bank account will be able to receive a health care electronic funds transfer (EFT) via ACH, just like a Direct Deposit,” said Janet O. Estep, NACHA president and CEO. “Providers will benefit from faster deposits and access to funds, and cost savings from not having to deposit paper checks. Payers will also benefit from replacing the printing and mailing of paper checks with electronic payments via ACH.”

The rule supports health plans’ and health care providers’ use of the ACH Network for electronic health care claims payments, and the electronic “reassociation” of these payments with electronic remittance advices (ERAs).

November 14, 2012

Glenbrook Goes Global!

GP Logo Horizontal 140px

Glenbrook is pleased to announce availability of a new private payments workshop on Global Payments.

Focused particularly on cross-border payments, the course is designed to help payments professionals understand this rapidly changing, and highly lucrative, sector of the industry. The Global Payments course is an addition to Glenbrook's extensive list of available private workshops.

Glenbrook's Global Payments course is available as a one-day or two-day session, and can be conducted in person at your premises and/or via a private webinar to reach your global staff groups. The agenda includes:

  • Overview: Key Concepts, Regulation, Foreign Exchange
  • Country Payments Systems - Commonalities and Differences, Key Country Focus
  • Cross-Border Payments: Wires, ACH, Cards, Money Transfer Systems
  • Cross-Border Use Cases - Supplier Payments (B2B), Cross-Border eCommerce, Global Payouts (B2C and G2C), International Remittances

Private workshop clients can choose particular countries they are interested in for the "Key Country Focus" section, as well the particular use cases they want to concentrate on.

Interested? Please take our global payments survey to give us your general feedback. And contact Glenbrook's Elizabeth McQuerry to discuss scheduling a Global Payments workshop for your company.

August 19, 2012

Payments Views - Bankers to NACHA: 1978 Is Modern Enough for Us!

GP Logo Horizontal 140pxGlenbrook's Carol Coye Benson is disappointed at the lack of banking industry support for moving to same day ACH. According to Carol, she files this kind of banker thinking in her “don’t worry about online music, CD’s work just fine” folder. Read Carol's full commentary on this issue over on our PaymentsViews.com sister site.

August 14, 2012

Guardian Analytics Unveils Behavior-based Fraud Solution for ACH

GuardianAnalytics logo 150pxGuardian Analytics has announced FraudMAP ACH, a new product that automatically analyzes ACH batches and transactions and prioritizes the highest risk payments for review.

"With ACH transaction volumes growing and criminals more eloquently tampering with ACH files, financial institutions are expending significant resources monitoring for fraudulent transactions and in many cases failing," said Craig Priess, founder and vice president of Products and Business Development at Guardian Analytics. "This is not a sustainable model. FraudMAP ACH fundamentally changes both the manner in which and how successfully a financial institution manages ACH payments risk."

June 13, 2012

April 16, 2012

NACHA Reports ACH Purchase Volume of $33.9 Trillion in 2011

NACHA logo 140pxThe ACH Network handled over 20.2 billion transactions in 2011, up 4.35% over 2010, according to new statistics released by NACHA. ACH payment volume was reported as $33.91 trillion.

“These statistics show that more and more consumers and businesses are making the conscious decision to use electronic payment options over paper checks or cash,” said Janet O. Estep, president and CEO of NACHA. “As advancements within the payments industry continue, ACH payments also continue to adapt to meet various needs of both consumers and businesses alike.”

October 18, 2011

Citi Expands WorldLink Local Payments Offering into Eight New Countries

Citi logo 140pxCitigroup has announced that its Global Transaction Services unit is expanding its premier cross-border payment solution, WorldLink® Payment Services (WorldLink), into eight new countries for local payments.

This expansion sees the traditional Automated Clearing House (ACH) offering increase from 21 countries, primarily in Europe, to 29 countries spanning Europe, Africa, Asia and the Americas.

September 29, 2011

Payments Views: That’s More Like It - NACHA Proposes Same Day ACH

GP Logo Horizontal 140pxOver on our sister blog, Payments Views, Glenbrook's Carol Coye Benson has posted some thoughts on NACHA's recent Request for Comment about its proposed rule change to support "Expedited Processing and Settlement" of ACH transactions.

July 14, 2011

June 27, 2011

S1 Corporation and Fundtech Announce Merger Agreement

S1 fundtechS1 and Fundtech have announced a definitive agreement to combine businesses through a stock-for-stock merger, creating an industry leader in transaction banking solutions. Fundtech operates the world's largest SWIFT service bureau. The combined company will be headquartered at S1's headquarters in Atlanta and will be called Fundtech.

June 20, 2011

April 06, 2011

Study Shows Ample Room for Direct Deposit Growth in Small Businesses

NACHA logo 140pxTwo-thirds of small businesses in the United States don’t offer Direct Deposit to employees, according to a new study from NACHA and eCom Advisors. "That is just over three million companies that are still issuing payroll by check and 18 million employees who don’t have the option to be paid electronically."

April 04, 2011

March 03, 2011

Heartland Adds E-Check to Create Single Platform for Check Management

HeartlandPayments logo 140pxHeartland Payment Systems has announced that it has added Automated Clearing House (ACH) functionality to its Express Funds check management platform, which is powered by transmodus. "The consolidation of the ACH feature with Express Funds allows businesses to process all check transactions — paper, online and over-the-phone — from one location in a cost-effective way."

February 10, 2011

December 17, 2010

December 13, 2010

November 15, 2010

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