Friday , March 29, 2024

Electronic Bill Payment

After Strong First-Quarter Growth, the Coronavirus Takes the Steam Out of the ACH

Like other payment networks, the automated clearing house was going great guns until mid-March, but thanks to the Covid-19 pandemic it’s now in the midst of a slowdown. ACH governing body Nacha reported Thursday that total volume rose 7.1% year-over-year in the first quarter to 6.4 billion transactions, up by …

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No Delay for Fuel EMV Shift Yet and other Digital Transactions News briefs from 4/8/20

Visa Inc. reportedly denied a request to delay the Oct. 1 EMV liability shift for petroleum businesses, according to a ConvenienceStoreNews.com article, which says several fuel-retailing groups petitioned Visa for the delay. Visa, the Web site said, attributing it to NACS, an association for convenience store operators, is said to be monitoring the …

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Another Marriott Data Breach and other Digital Transactions News briefs from 4/1/20

In its second major data breach in two years, hotel giant Marriott International Inc. disclosed a “property system incident” affecting personal information on 5.2 million guests. Fraudsters apparently gained access to Marriott’s systems in mid-January using the login credentials of two employees at a franchised property. Marriott, which said it discovered the …

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WorldRemit Partners With Paykii to Enable Users in One Country to Pay Bills Digitally in Another

Often overlooked in the market for digital bill payments is the need for immigrants, expats, and other persons living in one country to pay bills to service providers based in another country. To make that connection, international remittance service WorldRemit Ltd. said on Monday it is working with bill-payment platform Paykii …

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Experts Expect Even Faster Growth for Same-Day ACH As a $100,000 Cap Goes Into Effect

Faster payments got a boost Friday as Nacha, the governing body for the nation’s automated clearing house network, raised the limit on same-day payments from $25,000 to $100,000. The move follows a similar action earlier this year by The Clearing House Payments Co. for real-time transactions and is expected to …

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Eye on Covid-19: Payments Providers Hunker Down As an ATM Group Decries ‘The Scapegoating of Cash’

The electronic-payments industry is settling into a ride-it-out mode as panic selling resumed Thursday on Wall Street over the coronavirus, now deemed a pandemic by the World Health Organization. The Dow Jones Industrial Average opened down 1,700 points, and most payments stocks went over the cliff with it. In late-morning …

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More Details About FedNow Expected in Coming Months

The release date for the Federal Reserve’s planned FedNow real-time payments service is still three or four years off, but more details about its features will be released in the coming months, according to a Federal Reserve official. “This year we do plan to make an announcement based on … …

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Ajay Banga, Architect of Mastercard’s ‘Multi-Rail’ Strategy, Will Step Down As CEO in January

Ajay Banga, chief executive of Mastercard Inc. for the past decade and the strategist who converted what had been mostly a consumer card network into a player in non-card and real-time payments, said Tuesday he will step down Jan. 1 as CEO. He will then assume the role of executive …

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More Than 600 FIs Join Zelle Via Fiserv and other Digital Transactions News briefs from 2/24/20

Fiserv Inc. announced more than 600 financial institutions have joined the Zelle peer-to-peer payments network through its Turnkey Service for Zelle program, with more than 300 of those institutions coming on board last year.Private-equity firm Great Hill Partners and payments provider VersaPay Corp. announced the closing of the previously announced acquisition of VersaPay by an …

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Western States Names Officers and other Digital Transactions News briefs from 2/21/20

The Western States Acquirers Association announced Jason Putnam, a TIB-The Independent BankersBank executive, is president for 2020, having been a board member for the past 11 years. Deborah Camm, a Merrick Bank executive, is the vice president. Chase Oelkers of Folium Biosciences and Scott Defazio of Fiserv were elected directors. John Newton …

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