Electronic Checks

The nation’s automated clearing house network is on a tear. Transaction volume grew by 6.3% for the fourth quarter of 2017 and by 5.7% for the full year, according to numbers released late Tuesday by NACHA, the governing body for the ACH system. All told, the network handled $46.8 trillion …

Payments companies wondering how digital payments will evolve and what impact today’s younger consumers might have as they age may want to consider the role of apps, suggests the “Future of Money Study 2018” from Koski Research Inc. San Francisco-based Koski, in research that included 1,000 U.S. adults and a …

Amazon.com Inc.’s interest in launching a checking-account-like product, reported Tuesday by The Wall Street Journal, could have deep roots in its strategy both for payments in general and for Amazon Pay, the payment wallet it operates for non-Amazon sites, expert observers say. Talks between the Seattle-based retailing colossus and banks …

Criminals target signature-based debit cards for fraud attempts far more than any other payment method, according to new findings from the Federal Reserve Bank of Minneapolis. The Minneapolis Fed’s survey last summer, which garnered responses from 283 banks and credit unions across the country, found that more than 90% of …

Banks and credit unions across the board are increasing deposit limits for mobile remote deposit capture transactions, and with the consumer remote-capture market mostly conquered, financial institutions are turning their attention to small businesses. Those are two highlights from RemoteDepositCapture.com’s 2017 study of the mobile-capture market. The Alpharetta, Ga.-based publishing …

Mobile remote deposit capture transactions jumped 35% in 2017 over the previous year thanks to an increase in users, a software firm specializing in digital-banking applications for community banks and credit unions reports. “For banks and credit unions live for all of 2017, mobile deposits grew by an average of …

The automated clearing house network’s nearly uninterrupted growth tear took a breather in the third quarter, the period leading up to the introduction of same-day processing for ACH debit transactions. ACH transactions totaled 5.3 billion in the July through September quarter, according to NACHA, the Herndon, Va.-based governing body for …

Boosted by e-commerce sales, growth in credit card payments far outpaced growth in debit card and automated clearing house payments in 2016, according to newly released findings from the Federal Reserve. Credit card transactions grew 10.2% from 2015’s levels to 37.3 billion and were valued at $3.27 trillion, the Fed …

The seemingly unending growth in online shopping is doing more than closing physical stores. The point of sale in the stores that remain is changing, and along with it, payments providers, says Javelin Strategy & Research in its “2017-2021 Retail Point of Sale Payment Forecast.” As consumers continue to increase …

The reasons why consumers hate checks are numerous: waiting for a check to arrive in the mail, finding an institution to deposit it, waiting another three to five days for funds to clear, then fearing it might bounce. Nearly everyone would agree that it’s an antiquated process filled with stress …