Automated Clearing House

With an eye on having tangible proposals out by mid-2017, two Federal Reserve task forces are about to evaluate 19 plans to make electronic payments faster. Speed and security usually come to mind first when payments executives talk about improving the U.S. payment system, but other factors increasingly important to …

By John Stewart @DTPaymentNews For all the widespread anticipation of same-day settlement on the automated clearing house network, the first two weeks of faster processing has been a relatively quiet affair, bank executives and other experts tell Digital Transactions News. But that doesn’t mean a number of pressing questions aren’t …

As the automated clearing house network gets set to start a process that will over time speed up all ACH credit and debit transactions to same-day settlement, the ACH’s governing body late this summer took an important step toward controlling the risk posed by certain non-bank players that stand between …

• Processor Fiserv Inc. said ATM services provider FCTI Inc., a U.S. affiliate of convenience-store giant 7-Eleven Inc.’s Japan-based parent company, picked it to provide transaction processing for 7-Eleven’s nearly 8,000 U.S. ATMs when FCTI takes over the portfolio next July from Cardtronics plc. • Payment technology provider ACI Worldwide …

• Avidia Bank announced it is offering same-day ACH payments using technology supplied by linked2pay, a payments-technology company. • Fuel-pump manufacturer and convenience-store technology provider Gilbarco Veeder-Root said Colbea Inc., which does business as Seasons Corner Market, is installing Gilbarco’s Passport Point of Sale system to handle EMV chip card payments …

By John Stewart@DTPaymentNews Same-day processing starts Friday on the nation’s automated clearing house network, and months of preparation and planning appear to be paying off.  “Everybody is heads-down getting it done. We haven’t been getting any SOS calls,” Jane Larimer, executive vice president of network services at NACHA, the governing …

By John Stewart @DTPaymentNews Companies that have been planning for months for the arrival Friday of same-day automated clearing house payments are getting ready to pounce, and one of the first opportunities lies in platform payouts. Des Moines, Iowa-based Dwolla Inc., for example, on Wednesday is announcing a new feature …

• The Clearing House Payments Co. LLC selected IBM Corp.’s Power8 system for its real-time payments service, expected to go live next year. The IBM system will run software from VocaLink Holdings Ltd., which TCH selected last year as a vendor for its project. VocaLink is being acquired by MasterCard …

• Processor Fiserv Inc. said a new scoring model for its Payment Fraud Manager service designed specifically for automated clearing house transactions detected more than 90% of fraud while reviewing only 2% of the transactions in model validation tests. • Payment gateway Network Merchants LLC announced its SwIPe EMV chip …

By John Stewart @DTPaymentNews Traffic on the nation’s automated clearing house network has perked up over the last couple of years, and the latest statistics show no slacking off in that trend. Second-quarter transaction volume on the ACH grew 5.6% in the quarter ended June 30, down from the first …