Friday , March 29, 2024

Automated Clearing House

The ACH Continues to Sizzle, Racking up Nearly 6% Growth in the Third Quarter

By John Stewart It operates so much in the background that many payments professionals may not have noticed, but the automated clearing house network is on a hot streak. The 41-year-old system notched a 5.9% year-over-year increase in transactions in the quarter ended Sept. 30, reaching a total of 4.83 …

Read More »

As Real Time Hits Prime Time, Early Warning And Fiserv Target Bill Payments, Deposits

The Federal Reserve may be shepherding a nationwide effort to bring real-time payments to the United States, but that doesn’t mean payments companies are marking time while that process unfolds. The latest development is Tuesday’s announcement that bank processor Fiserv Inc. will work with risk manager Early Warning Services LLC …

Read More »

How MCX’s Deals with Chase Pay And BIM Networks Help Fill a Tender Gap in CurrentC

With two strokes of the pen, Merchant Customer Exchange LLC has addressed one glaring weakness in its mobile wallet. By announcing a deal this week with JPMorgan Chase & Co.’s brand-new Chase Pay mobile-payments service and two weeks ago with a little-known New York City-based app provider called BIM Networks …

Read More »

With Technology from VocaLink And FIS, TCH Sees a Faster Way to Real-Time Payments

With two key announcements this week, The Clearing House Payments Co. LLC has brought the finish line much closer in its run to build a U.S. real-time payments system. While the New York City-based company has not set a date for completion, senior executives told Digital Transactions News Tuesday TCH …

Read More »

As Traffic Heats up, the ACH Continues To Expand at 5%-Plus Rate

By John Stewart Transactions on the automated clearing house network grew 5.4% in the second quarter, the second straight period of 5%-plus expansion for the 40-year-old system, which reaches virtually every financial institution in the country. That’s according to numbers reported by NACHA, the organization that regulates the ACH. The …

Read More »

Looking Past Transaction Fees, Dwolla White-Labels a Quartet of API Functions

When Dwolla Inc. in June eliminated its 25-cent transaction fee, it said it intended to make money by launching value-added services that would leverage the network technology it had created. On Wednesday, it launched the latest chapter in this plan with a white-label service that lets banks, businesses, and government …

Read More »

The CFPB Weighs in With Guidelines to Protect Consumers Using Faster Payments

The federal Consumer Financial Protection Bureau on Thursday issued nine guidelines summarizing its vision for faster payments as banks, payment processors, tech companies, and other government regulators continue work on proposals for improving U.S. payments. “Companies developing new financial technologies should be building systems from the outset with consumer protections …

Read More »

PayPal To Acquire Online Wire-Transfer Provider Xoom for $890 Million in Cash

PayPal Inc. plans to buy online wire-transfer provider Xoom Corp. in an all-cash deal valued at $890 million, the companies announced late Wednesday. The planned acquisition comes less than three weeks before PayPal’s expected spin-off from eBay Inc. and will bring under PayPal’s wing a highly regarded rival in the …

Read More »

How ClearXchange’s New Real-Time Payments Service Goes Beyond the P2P Market

The clearXchange payments service owned by five of the nation’s six largest banks on Monday announced a real-time payments service that includes not only its original person-to-person payments franchise but also business-to-consumer payments. Mike Kennedy, chief executive of San Francisco-based clearXchange, tells Digital Transactions News that the system is live …

Read More »

ACH Network Volume Climbs 5 percent in First Quarter As ‘Native Electronic’ Items Sizzle

By John Stewart As participants in the 40-year-old automated clearing house network get ready to implement same-day clearing capability, network growth continues to percolate, according to the latest numbers from NACHA, the Herndon, Va.-based rules-setting organization for the ACH. Transactions totaled 4.72 billion in the first quarter, an increase of …

Read More »
Digital Transactions