Automated Clearing House

Consumers using the Phillips 66, Conoco, or 76-branded smart-phone apps soon will be able to pay for fuel using their checking accounts thanks to an integration with Buy It Mobility Networks, a New York City-based payment and customer relationship management platform. Announced Tuesday, the service will be available soon, says …

Fuel-payments specialist P97 Networks and Buy It Mobility Networks, an automated clearing house-based payment and consumer-engagement provider, said they will provide ACH-based payment and related services to Phillips 66, Conoco, and 76-branded fuel stations. In 2016, P97 said it was working with Chase Pay on a payments service for Phillips …

Global Payments Inc. is making the transaction data its merchants generate easier for them to access and use. The Atlanta-based processor launched Heartland Analytics Monday. The service, available to U.S. merchants, is designed for small and mid-size businesses in the restaurant and hospitality industries. The service enables them to view …

The Federal Reserve’s call for a faster-payments system to be in place in the United States by 2020 has been termed everything from a vision to a goal, a soft goal, or a deadline. One thing it isn’t is a mandate. So can faster payments arrive in less than two …

Consumer affinity for the cheapest gas prices birthed smart-phone app GasBuddy, and now the app has sired a way for consumers to actually make the payment at fill up. Boston-based GasBuddy recently announced its Pay with GasBuddy service, which connects a consumer’s checking account with a GasBuddy-issued card. After enrolling …

The nation’s automated clearing house network launches same-day clearing and settlement on Friday for debit transactions, and top officials at NACHA say the Herndon, Va.-based network administrator is making final preparations. “We’re looking forward to tomorrow,” Jane Larimer, chief operating officer and general counsel at NACHA, told Digital Transactions News …

The Federal Reserve issued a report on Wednesday that indicates the nation’s central bank could play a much more active role in faster payments than many have expected, up to and including providing alternative processing services. Up to now, the Fed has limited its role to sponsoring working groups that …

So far, most observers would agree same-day ACH credit processing, introduced nearly a year ago on the nation’s automated clearing house network, has been a success. Users appear to be satisfied with the service, and risk appears to be under control, observers say, despite the shorter windows for fraud detection. …

So-called native automated clearing house payments that originate electronically rather than by conversion of a paper check continued their robust growth in the second quarter while same-day ACH transaction volume hit $16.6 billion, reports ACH governing body NACHA—The Electronic Payments Association.  In total, the ACH network transferred 5.35 billion payments, …

Now that the Federal Reserve-sponsored Faster Payments Task Force has issued its final report calling for speedier payments everywhere in the United States by 2020, the really hard work can now begin, say some observers. Payments cleared and settled in near real time has long been a goal of many …