Automated Clearing House

With just five days remaining, organizations developing so-called faster-payments systems are submitting proposals for evaluation by a consulting firm retained by the Federal Reserve Board’s Faster Payments Task Force. On Monday, The Clearing House Payments Co. LLC, which is building a real-time payments system with Fidelity National Information Services Inc., …

• Starbucks Corp. says mobile payment represented 24% of total U.S. tender in fiscal 2016’s second quarter, and the coffee company’s Mobile Order & Pay service accounted for 4% of total transactions, or about 8 million per month, up 40% from the first quarter. • Citing a “large increase” in fraudulent …

When The Clearing House Payments Co. LLC enlisted processor Fidelity National Information Services Inc. (FIS) last fall to help it launch real-time payments in the United States, it wasn’t ready to say when the system would go live. On Monday, TCH answered that question and also cleared up what types …

• Fidelity National Information Services Inc. and The Clearing House Payments Co. LLC announced they will launch a pilot for real-time payments in the first quarter of next year. The system will focus initially on bill payments and will use FIS technology along with The Clearing House’s real-time payment platform. …

The automated clearing house network reported stepped-up transaction volume with each set of quarterly statistics it released last year, and on Thursday it confirmed officially that 2015 was a banner year for growth. The payments network, which connects virtually every financial institution in the country, handled more than 24 billion …

Automated clearing house governing body NACHA says nearly all of the nation’s biggest financial institutions plan to originate same-day ACH payments this year. The January-February telephone survey of executives at 22 of the nation’s top 25 ACH originators found that 95%, which works out to all but one of the …

Some two-and-a-half years after it started, the Federal Reserve’s project to make U.S. payments faster and more secure is laying the groundwork for private industry to come up with something better than the mishmash that U.S. payments are today, but tangible results still could be years away. Fed officials and others …

The automated clearing house network’s strong growth run continued in 2015’s fourth quarter, exceeding 5% for the fourth quarter in a row. ACH governing body NACHA recently reported that total network volume hit 4.98 billion transactions, up 5.5% from 4.72 billion in 2014’s fourth quarter. While strong, the growth rate …

MasterCard Inc. reportedly wants to acquire VocaLink Ltd., operator of the United Kingdom’s Faster Payments system, for just under £1 billion ($1.4 billion), according to reports in the British media Thursday. Such a deal, if consummated, could shake up the budding faster-payments movement in the U.S., where VocaLink is building …

Visa Inc. has launched Visa Consumer Transaction Controls, a service that lets Visa-card issuing institutions offer cardholders the ability to set transaction limits with their credit, debit, and prepaid cards. Visa says it works with more than 14,000 financial institutions, but does not provide a U.S.-specific total. Announced Tuesday, the …