Automated Clearing House

Volume for automated clearing house transactions cleared and settled on the same day they’re initiated increased 22.3% in 2023, signaling the embrace of same-day ACH by the payments industry, Nacha says. Same-day processing was launched nearly eight years ago. Nacha, a rulemaker for the ACH network, says overall ACH volume …

Visa Inc. reported $8.6 billion in net revenue for its December quarter, up 9% year-over-year, on $3.9 billion in credit and debit card volume, up 7.8%. Apple Inc. announced changes to iOS, Safari, and its App Store to meet European Union rules, including new options on its App Store to use payment …

Navy Federal Credit Union reported it took in more than $2.7 million in real-time deposits on its first full day of real-time payments service on The Clearing House Payments Co.’s Real Time Payments (RTP) network. Shift4 Payments said it will process ticket and in-venue concession sales for the Baltimore Ravens National Football League …

Payments provider Usio Inc. says benefits administrator Genius Avenue will use multiple Usio payments products, including automated clearing house transfers and a prepaid card program, to serve its customers. Announced Monday, the partnership integrates Usio’s payments services with the Genius Avenue platform. Tucson, Ariz.-based Genius Avenue is keen to tap …

Real-time account-to-account payments provider AppBrilliance announced it closed an investment from Truist Ventures, the venture-capital arm of Truist Financial. Terms were not announced. AppBrilliance works with The Clearing House’s Real Time Payments network as well as FedNow, the real-time network from the Federal Reserve. Pay Plantation LLC, whose payment gateway allows merchants to accept e-checks …

Payments platform Klarna AB added a service in the U.S. market that enables “creators” to open customized online storefronts. PCI Pal, a provider of compliance technology for the Payment Card Industry data-security standard, said it is working with Zoom Video Communications Inc. to launch its services with Zoom Contact Center and Zoom …

The big Montreal-based payments processor Nuvei Corp. said early Wednesday it will process investments in private companies through KoreConX, a technology provider specializing in enabling such payments for individual investors. Interestingly, the arrangement includes the use of both card and account-to-account networks to route customers’ investments, with a $50 minimum, …

J.P. Morgan Payments launched its pay-by-bank service, relying on open-banking technology from Mastercard Inc. The service lets customers pay bills directly from their bank accounts. Block Inc.’s Afterpay buy now, pay later platform announced a partnership with Nift Networks to offer users access to products and services offered by Nift. Point-of-sale system maker Revel …

Ninety-nine percent of large enterprises—those with annual revenue of $1 billion to $9.9 billion—expect to send real-time payments in the next five years, found the 2023 AFP Real-Time Payments Survey released by the Association for Financial Professionals and sponsored by The Clearing House Payments Co. LLC. It also found that 77% of …

The Payments Innovation Alliance released what it calls a tabletop exercise designed to help small and mid-size businesses prepare defenses against a cyberattack. The PIA is part of Nacha, the network operator for the automated clearing house network. Transact Campus Inc., a payments platform specializing in college campuses, announced a technical …