Monday , October 15, 2018

Automated Clearing House

A Real-Time Bill-Payment Service From Mastercard Could Lure Biller-Direct Fans

After years of planning and deliberation, the payments industry is starting to announce services based on real-time processing. One of the first is Mastercard Inc., which on Wednesday unveiled a system that will allow consumers to view bills and then transfer funds to the billers within seconds. Experts see an …

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TCH Looks to Connect Thousands of Banks for Real-Time Payments Within the Next Few Months

While the Federal Reserve Board mulls an entry into the business of real-time payments, a major competitor is already racking up impressive gains among U.S. financial institutions. The Clearing House Payment Co. Ltd., the New York City-based company that, among other services, operates one of only two switches for the …

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The Fed Proposes an Always-On Settlement System for Faster Payments

The Federal Reserve on Wednesday unveiled a proposal to facilitate real-time settlement of faster payments. The Fed said it is not committed to any specific action on its plan, but banks and private-sector payment processors are watching for any infringement on their turf. “Over the past year, we have undertaken …

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NACHA Acquires the Business Payments Directory Association To Bolster B2B Payments Services

NACHA reported Monday that it has acquired the non-profit Business Payments Directory Association, a move that deepens the presence of the U.S. automated clearing house network’s governing body in business-to-business payments and provides an entrée into blockchain-based payments. Herndon, Va.-based NACHA said the BPDA will operate as a self-governed group …

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Eye on ATMs: Visa Will Lift Dynamic Currency Conversion Restriction at ATMs, Euronet Says; New PAI Leadership

In what may be a boon for ATMs, Visa Inc. will allow dynamic currency conversion for consumers using international ATMs beginning April 13, 2019, says Euronet Worldwide Inc. The Leawood, Kan.-based processor, which operates more than 41,000 ATMs globally, says the rule change enables acquirers and ATM operators to offer …

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Cash-Based Online Payment Service PayNearMe Adds Card And ACH Options

For nine years, PayNearMe has focused on enabling consumers without access to payment cards to make cash payments for online goods at point-of-sale terminals in what has grown to a network of some 27,000 merchant locations. On Thursday, the Sunnyvale, Calif.-based company said it now can process credit, debit, and …

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The World Added 15 Real-Time Payments Systems in the Last Year, and 21 More Are Coming

The world currently has 40 real-time payments systems versus only 25 just a year ago, payment processor Fidelity National Information Services Inc. (FIS) reported Wednesday. What’s more, five such programs are under development, and another 16 should be live in 12 months to 18 months, Jacksonville, Fla.-based FIS says in …

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BlueSnap Now Processing In Australia and other Digital Transactions News briefs from 9/18/18

Processor First Data Corp. said it shipped its 1 millionth Clover point-of-sale sale device aimed mainly at small and mid-sized merchants; the device went to Friesen-Apotheken, a pharmacy chain based in Bad Malente, Germany. Payments platform BlueSnap has begun local processing for business-to-business and business-to-consumer companies in Australia. Buildium, a …

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As Transaction Volume Grows, NACHA Smooths out the Road for Same-Day ACH

With volume building for same-day processing of automated clearing house items, the regulatory body for the extensive ACH network announced Monday a trio of enhancements aimed at, among other things, raising the dollar limit on the faster transfers and making credit funds available faster during the processing day. The changes, …

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Grubhub Closes LevelUp Deal and other Digital Transactions News briefs from 9/14/18

Grubhub, an online and mobile food-ordering marketplace, closed on its previously announced acquisition of LevelUp, a mobile-payments and -promotions platform, for $390 million in cash. Dream Payments, a digital-payments platform provider, released an application programming interface that allows insurers to link to the Dream Payments Hub as well as Mastercard …

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