Electronic Checks

While remote deposit capture continues to be one of the fastest-growing electronic payments products ever introduced, banks are still far too conservative in the way they sell the service, says Bob Meara, a senior analyst at Boston-based researcher Celent LLC. That could change soon, though, as resellers such as independent …

With the exception of the new back-office conversion application, or BOC, growth rates for the automated clearing house's electronic-check codes for transactions originating with paper checks declined in the third quarter. Those numbers might indicate one-time or seasonal blips, especially with the weakening economy, but they could also show that …

While formal bank recruitment hasn't started yet, an 18-month pilot to test the idea of transmitting check data as automated clearing house files is likely to get under way no sooner than the middle of next year, says a senior executive at NACHA, which is sponsoring the project. “[That] would …

After years of torrid growth, the automated clearing house's electronic-check code for lockbox payments has seen its expansion slow almost to a halt. The second-quarter numbers in the accounts-receivable conversion (ARC) standard entry class (SEC) could be just a blip, or they may reflect a permanent shift toward non-paper bill …

A small software company that has sued big banks and processors for years over patents it holds that relate to check-imaging and image exchange scored a series of victories in recent weeks as three banks settled with the company and agreed to license its technology. A settlement between Bank of …

Viewpointe Archive Services LLC, operator of both an electronic check-image archive as well as an image-exchange network, on Monday announced it is entering the business of check-image settlement with the acquisition of PaymentsNation, a Dallas-based company that until recently was known as National Clearing House. The deal, for which terms …

In the 18 months since NACHA introduced an electronic payment method that lets merchants convert bundles of checks in a central location, it's become clear that the method?known as back-office conversion (BOC)?isn't likely to have a big impact on retailers' paper-check volumes. That's according to Bob Meara, a senior analyst …

Hoping to cut its paper-bill costs, AT&T Inc. has quietly made electronic bill payment available to its AT&T Mobility mobile-device customers that have deposit accounts with the more than 3,000 financial institutions that use the e-bill services of bank processor Fiserv Inc.'s CheckFree subsidiary. AT&T Mobility, formerly Cingular Wireless, and …

The softening economy so far hasn't taken a big bite out of payment processors' earnings, but it is having some effects. Meanwhile, processors continue to streamline their operations, integrate acquisitions, and roll out new services. ? Reflecting the recent weakness in consumer spending, big merchant acquirer Heartland Payment Systems Inc. …

NACHA, which late last week extended by six months the deadline for banks to start processing a new automated clearing house transaction type representing payments flowing into and out of the U.S., says it decided to grant the extension so that financial institutions and their vendors will have more time …