In recent years, the underlying technology used for direct-deposit transactions has slowly become more “instant,” and now allows for same-day transactions. The electronic payments association NACHA is making the case that nonprofits could benefit from this shift.
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Use of Same Day ACH payments increased substantially in September and October 2017, according to data released by NACHA—The Electronic Payments Association®.
Cybercrime for profit is a global economy that causes most of our cybersecurity and fraud woes and it is a problem to which all anti-money laundering (AML) and financial sector professionals should pay close attention.
If you haven’t had a chance to check out our resource center, now is a good time. We recently added three additional resources to the center, including the Real-Time payments playbooks for both Operations and Technology. Our Resource Center provides a reservoir of information related to IBM’s Financial Transaction Manager (FTM) suite of products and…
It wasn’t long ago that paying bills or getting a paycheck meant waiting for a check to move through the mail system. Nowadays, many of these payments happen online through an electronic network called the Automated Clearing House or ACH.
Now that same day ACH debit payment has kicked off, National Automated Clearing House Association (NACHA), the steward of Automated Clearing House (ACH), is in the final phase to implement its same-day payment vision for ACH.
As enterprises, the world over become aware of the benefits associated with moving their operations to the Blockchain-as-a-Service (BaaS) platform, the Indian public sector would be the real beneficiary of this disruptive technology in the days to come, a top IBM executive has forecast.
New capabilities of Same Day ACH become effective over three phases to allow financial institutions and businesses to acclimate to a faster processing environment, as well as to ease the implementation effort. Beginning March 16, 2018, RDFIs will be mandated to make funds available from same day ACH credits (such as payroll Direct Deposits) to their depositors by 5:00 PM at the RDFI’s local time.
So-called native automated clearing house payments that originate electronically rather than by conversion of a paper check continued their robust growth in the second quarter while same-day ACH transaction volume hit $16.6 billion, reports ACH governing body NACHA—The Electronic Payments Association.