Electronic Checks

The national automated clearing house network enjoyed its second-strongest first-quarter performance in the past five years, with 3.8% transaction growth year-over-year, according to statistics released Monday by NACHA, the network’s administrative agency. n The new growth energy comes as the 40-year-old electronic payments network readies a proposal to speed up …

As mobile remote deposit capture continues its transition from niche to mainstream financial service, a new study affirms earlier research that bankers’ fears about losses were largely overblown. At the same time, mobile remote-capture newbies do a less sophisticated job of risk management than their more experienced colleagues. The findings …

A fresh proposal to introduce a same-day settlement capability for the automated clearing house network is encountering cautious optimism mixed with a healthy dose of skepticism among expert observers. But NACHA officials clearly see the new proposal not only as a blueprint for speedier payments but also as a first …

A concept that would do away with paper checks while retaining their payment advantages took a step closer to fruition this week with the introduction of a mobile app that lets users create and send check images. The app, called Mobile Checkbook, works with Apple Inc. iOS devices and comes …

A new research report from Celent LLC estimates that the number of consumers using the mobile variant of remote deposit capture (RDC) nearly doubled in 2013 and predicts that users will triple by 2016 to 61 million. Along with documenting its growth, however, the report says remote capture is sustaining …

When it comes to payments, the United States might be considered the land of the gap, according to a Federal Reserve assessment issued earlier this month. The assessment is the first of a three-part research study aimed at spurring the modernization of U.S. electronic payments, which many public-sector researchers and …

By John Stewart n Electronic processing of payments that originate as paper checks dropped dramatically in the second quarter on the automated clearing house network, while payments that start out as electronic items grew briskly, according to the latest report from NACHA, the ACH’s governing body. n The decline in …

The increasing popularity of depositing checks via mobile devices could end up saving financial institutions offering the service a good deal of money, according to a recent study. But, while cost savings from mobile check capture are real, there are offsetting factors, says an expert not connected with the study. …

The slow death of paper checks showed up again in the latest quarterly statistics from NACHA, the regulatory body for the automated clearing house network. The ACH, which links virtually every financial institution in the country, allows banks and merchants to convert checks into electronic formats. But transaction volume on …

As the popularity of mobile remote deposit capture grows, some payments observers say the risk that checks might be deposited more than once may increase, as well. To be sure, there’s nothing new about the risk of duplicate checks. The problem has existed at least since the 2004 introduction of …