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    Automated clearing house (ACH)

    News about Automated clearing house (ACH).

    US gets same day ACH

    September 26th, 2016

    The Electronic Payments Association (NACHA) has launched phase one of Same Day ACH (Automated Clearing House) across the US, allowing businesses and consumers to send and receive payments and payment-related information on the same day through the ACH Network. “Phase one of Same Day ACH allows for the sending and receiving of virtually any ACH credit transaction,” NACHA says. Phase two will launch in September 2017 to introduce the “faster processing and settlement of debit transactions, in addition to credit transactions”. Members of NACHA approved Same Day ACH in May 2015.

    MasterCard partners with P97 to enable mobile payments and rewards at the pump

    October 8th, 2015

    MasterCard has announced a global partnership with mobile payments at the pump provider P97 to enable mobile payments and rewards at gas stations and convenience stores that are equipped with P97’s PetroZone platform. “Powered by… More

    US to get same day ACH payments

    May 20th, 2015

    Members of the Electronics Payments Association (NACHA) have approved Same Day ACH (Automated Clearing House), an amendment to the NACHA Operating Rules that will enable same-day money transfer for “virtually any” ACH transaction. “Same Day ACH will build upon existing, next-day ACH Network capabilities and establish a new option for same-day clearing and settlement via ACH,” the organisation explains. The move, which will be implemented in a “phased approach”, will greatly accelerate the speed at which money can move through the US financial system.

    Snapchat to add payments?

    July 18th, 2014

    Messaging app Snapchat has applied to extend its trademark into two classes relating to payments, Techcrunch reports. Trademark #86335306 covers “computer application software for processing electronic payments to and from others that may be downloaded from a global computer network” while trademark #86335307 applies to “electronic transfer of money for others; providing electronic processing of electronic funds transfer, ACH, credit card, debit card, electronic check and electronic, mobile and online payments”.

    Mobile payments to overtake cards within ten years

    September 14th, 2011

    Mobile payments will represent 15% of all card transactions by 2013, and will overcome card volumes within 10 years if growth continues at the same rate, according to the World Payments Report 2011. More