Automated Clearing House

BMO Financial Group, a unit of Bank of Montreal, announced it has linked to The Clearing House Payments Co. LLC’s Real-Time Payments network, enabling U.S. business clients to receive funds instantly from any sending bank connected to the network.ACI Worldwide Inc. said its Speedpay unit will allow customers of Entergy Services LLC, a …

Cloud-based point-of-sale maker Revel Systems said restaurant chain Pizza King will use the Revel Enterprise POS system across its 49 locations, including payment processing via Revel Advantage. Pizza King also will use Revel’s technology for integrations with an employee scheduling application and a gift card provider.ParTech Inc. introduced PAR Payment Service. Designed for …

Nacha has approved eight amendments to its operating rules governing the use of ACH payments. The amendments were approved as part of Nacha’s strategy to modernize the ACH network through infrastructure improvements and to make ACH payments easier to initiate for consumers, businesses, and other organizations. The new rules are …

Nuvei Corp. said it received a sports betting vendor license in Colorado, enabling it to process payments there for regulated sports betting sites and apps.Mastercard Inc. and ACI Worldwide Inc. said they will collaborate to support real-time payments capabilities, initially for central banks, payments networks, financial institutions, and payments providers.To help businesses …

Real-time payments are gaining momentum in the United States, but research released Monday indicates the U.S. market remains a laggard. The total value of so-called instant payments will reach $18 trillion in 2025, but the U.S. share of that market will total just 8%, or $1.4 trillion, according to a …

Getting to universal real-time payments in the United States will depend on reaching smaller banking institutions, and on Wednesday The Clearing House Payments Co. LLC may have created the potential to scoop up a significant number of these endpoints via a deal with the major processor FIS Inc. The two …

The impact of the economic downturn sparked by the coronavirus pandemic has affected payments of all sorts, but perhaps none so much as consumer bill payments. Indeed, some 56% of consumers said it was harder to pay bills because they’d lost their jobs or had sustained a reduction in income, …

Point-of-sale credit provider Affirm Inc. said it raised $500 million in a series G funding round. Lead investors were GIC and Durable Capital Partners LP. Affirm also introduced an interest-free biweekly payment product for transactions of as little as $50. It also announced that NutriBullet, a small-appliance maker, offers Affirm as a payment …

Convenience-store operators wanting another way to accept payments for lottery games have a decoupled-debit option with the launch of the BuyLottoNow program. The program, provided by iVertical Payment Network LLC, Boca Raton, Fla., charges no fees to merchants, but charges consumers 30 cents per transaction. Consumers enroll a checking account …

VSoft Corp., a provider of digital-banking and payment solutions to financial institutions, on Wednesday launched the Bread network, a peer-to-peer, consumer-to-business, business-to-consumer, and business-to-business payment network.  Bread enables real-time payments between financial institutions within its network. Money sent and money received is kept within the users’ respective financial-institution accounts, as …