Sunday , November 29, 2020

Electronic Checks

Eye on Digital Payments: How Covid Is Impacting Business Payments; Contactless Guidance Emerges

The Covid-19 pandemic, which is surging again in many parts of North America, has proven to be a tipping point for digital business payments, says a white paper released Monday from WEX Inc., a provider of payment technology for fleet operators and travel and health-care businesses. Of the 308 senior …

Read More »

The ACH Recorded 9% Growth in the September Quarter Even Though Covid Aid Trailed off

The nation’s automated clearing house network surged again in the September quarter, even with a waning of federal-assistance payments. Volume grew by double-digit percentage increases in most major categories as the network handled 6.8 billion transactions overall, up 9%, Nacha reported Tuesday. Nacha is the governing body for the network, …

Read More »

Nacha Amends ACH Rules in the Face of New ‘Channels’ And ‘Technologies’ for Payments

Nacha has approved eight amendments to its operating rules governing the use of ACH payments. The amendments were approved as part of Nacha’s strategy to modernize the ACH network through infrastructure improvements and to make ACH payments easier to initiate for consumers, businesses, and other organizations. The new rules are …

Read More »

How Consumers Struggling with Covid-19’s Impact Have Paid—Or Not Paid—Their Bills

The impact of the economic downturn sparked by the coronavirus pandemic has affected payments of all sorts, but perhaps none so much as consumer bill payments. Indeed, some 56% of consumers said it was harder to pay bills because they’d lost their jobs or had sustained a reduction in income, …

Read More »

How Fraudsters Are Deploying Mobile Capture to Target Covid Stimulus Checks

Stimulus-check fraud is on the rise, says Advanced Fraud Solutions, a High Point, N.C.-based provider of fraud-mitigation tools. Of 1 million checks screened by AFS, 41,000 have been identified as fraudulent, the company says. Legitimate checks were issued by the U.S. Department of the Treasury starting in March as part …

Read More »

Visa Joins Nacha’s Phixius Information-Exchange Pilot

Card-brand giant Visa Inc. is joining a payment-information exchange test operated by Nacha, the network operator for the automated clearing house system. Dubbed Phixius, the exchange could expedite the sharing of payment information between payees and payers and can allow for multiple payment types, including ACH, wire, card, and others. …

Read More »

Mastercard Agrees to Nets Concessions and other Digital Transactions News briefs from 7/28/20

Mastercard Inc. is offering some concessions in its bid to win approval from European Union competition authorities for its planned $3.2 billion acquisition of major parts of Denmark-based payment processor Nets Group, Reuters reported.California’s Department of Motor Vehicles selected payments provider Forte Payment Systems to oversee the DMV’s e-check verification process.Digital-banking technology provider Tyfone Inc. has …

Read More »

Will Consumers’ Payment Habits Return to Their Pre-Covid-19 Patterns?

Before being upended by the Covid-19 pandemic, the payment choices U.S. consumers made were fairly stable. The biggest changes from 2018 to 2019 were an upswing in online bill payments and continued slippage in cash usage, according to new findings from the Federal Reserve Bank of Atlanta. Based on a …

Read More »

Fiserv CEO Yabuki Sees Signs of Stronger Growth as He Yields to Former First Data Chief Bisignano

Jeff Yabuki will step down July 1 after 15 years as chief executive of Fiserv Inc. and will be succeeded by Frank Bisignano, who joined the company last year after it acquired First Data Corp., of which Bisignano was CEO, in a $22-billion all-stock deal. Yabuki, who is also Fiserv’s …

Read More »

Coinqvest Debuts Crypto Processing Service and other Digital Transactions News briefs from 4/21/20

Coinqvest launched its enterprise cryptocurrency processing platform. With it, merchants can be paid online in cryptocurrencies and convert them into traditional currencies.The New York City Department of Transportation announced two apps can be used to pay for parking at more than 80,000 metered spots. In addition to the ParkNYC app, which …

Read More »
Do NOT follow this link or you will be banned from the site!