Automated Clearing House

Growth in cashless tollways has been a boon for moving traffic. Now, PayNearMe Inc., a fintech that enables paying for online transactions with cash among other payment methods, says it is working with Kapsch TrafficCom to enable a way for those without access to in-car wireless toll payments to pay …

Chase, the banking arm of giant JPMorgan Chase & Co., introduced a suite of digital products it says will help small businesses improve their cash flow and payment processing. Among the services are the ability to choose a payment speed, such as standard automated clearing house, same-day ACH, or real-time …

Online-gambling consumers in Pennsylvania using Mohegan Digital iGaming services will be able to use PayNearMe Inc.’s deposit and payout services. Announced Tuesday, the collaboration sees Santa Clara, Calif.-based PayNearMe’s MoneyLine as the exclusive payments platform for Mohegan Digital in that state. Mohegan, the Uncasville, Conn.-based parent company of numerous casinos, …

Payments platform Paysafe, already a competitive processing option for online gaming sites, added a pay-by-bank option enabling online bettors to fund deposits instantly in their accounts. It also can be used for cashing out winnings. The service, which Paysafe says carries no fees to bettors but offers a tiered pricing …

Same-day ACH transactions helped fuel a strong first quarter for the automated clearinghouse network. Nacha, the governing body for the automated clearing house network, reported early Tuesday that same-day ACH transactions totaled 273.7 million during the quarter, a 47% increase from the same period a year ago. The dollar value …

The European Commission’s antitrust regulators are likely to approve, perhaps as early as next month, proposals from Apple Inc. that would open the iPhone’s NFC capability to wallets that rival Apple Pay, Reuters has reported. If accepted by the regulator, the proposals would end a four-year inquiry that otherwise could have led …

Evolving merchant expectations are a primary factor in Aurora Payments’ newly released Arise Payment Platform, which is intended to match sellers’ needs, says Brian Goudie, Aurora chief executive. Announced Tuesday, the Arise platform includes same-day onboarding capability, surcharging, cash discounting, and dual- pricing options, Aurora says. It also offers acceptance …

The top 50 originating financial institutions on the automated clearing house network hit nearly 27.7 billion in payments in 2023, a 5.7% increase over 2022, Nacha says. Volume for the top 50 receiving FIs was almost 20 billion payments in 2023, a 6.4% increase from 2022. Herndon, Va.-based Nacha says …

Digital wallets accounted for $13.9 trillion in payments volume last year, or 50% of e-commerce and 30% of point-of-sale spending, according to Worldpay’s Global Payments Report 2024. This will grow to more than $25 trillion by 2027, or 49% of combined point-of-sale and online volume, the report forecasts. Automated clearing house …

Nacha, the governing body for the automated clearing house network, has approved a new set of rules aimed at curbing the growing threat of credit-push fraud. Credit-push fraud uses social engineering and email phishing attacks to deceive someone into sending funds to a criminal-controlled account. Common examples of credit-push fraud …