PaymentsJournal’s Post

Amid constant speculation about the future of payments technology, the ACH Network had its best year yet. The ACH Network processed more transactions, moved higher dollar values, and established more use cases for businesses and consumers. With new initiatives on the way designed to increase security and foster innovation, the ACH Network’s impressive growth could just be beginning. Michael Herd, Executive Vice President of ACH Network Administration at Nacha and Elisa Athonvarangkul Tavilla, Director of Debit Payments at Javelin Strategy & Research, discuss the growth areas for the ACH Network, the continued rise of Same Day ACH, and the future of the platform. Read more: https://lnkd.in/dh3erVuy #payments #ACH #samedayACH #paybybank #subscriptions Jacob Jegher, Brian Riley, Jordan Hirschfield, Ryan Cole, Don Apgar, James Wester, Christopher Miller, PhD, Craig Lancaster, Ben Danner, Matthew Gaughan, Suzanne Sando, Jennifer Pitt, Kevin Libby, Justin Hamel, Sandy Park, Christopher Lascano

The ACH Network is set to surpass 33 billion payments by the end of the year, marking a significant milestone. Consumer Internet-initiated payments are set to surpass 10 billion, a remarkable achievement considering the payment method was created just 20 years ago. The Ongoing Success Story of ACH The State of ACH: Instant payments rails like FedNow and RTP have received significant attention over the past year, but this hasn’t slowed ACH’s momentum. In Q2 2024, ACH payment volume increased by over 6% year-over-year, with an average daily payment volume reaching 132 million payments. The total value of payments flowing through the ACH Network topped $42 trillion in just the first half of the year. “There are a few areas that are driving overall ACH volume growth,” Herd said. “The first is B2B payments, which are growing by more than 10% per year. That’s been a long-standing trend for the last seven or eight years. While there are still pockets of check use in industries like healthcare and higher education, overall check volume seems to be declining and the B2B space is moving towards ACH.” #ACH #SameDayACH #FedACH #NACHA #ACHNetwork #CHIPS #RTP #FedNow #Payments #InstantPayments #RealTimePayments #Zelle #ChinnapaReddy #Banking #Innovation #Fintech #BillPay #B2B #FasterPayments #B2BPayments #SWIFT #NEFT #RTGS #FedWire #LYNX #CHAPS #UPI #NPCI

Exploring the realm of ACH payments is like peering into the intricate gears of modern finance—a complex system meticulously designed for efficiency and security. Discover how ACH payments streamline transactions, reduce costs, and enhance security in the digital age. Unravel the intricacies of ACH payments in this informative deep dive. #Finance #ACHPayments #DigitalPayments #Efficiency #Security https://lnkd.in/dfENqjVa

In today's digital world, it's essential to choose the right payment method for your needs. Whether you're a business owner or an individual, understanding the different payment systems available can help you make informed decisions. Two of the most commonly used payment methods are Real-Time Payments (RTP) and Automated Clearing House (ACH) transfers. While they both serve the same purpose of moving money from one place to another, they function quite differently. This article will explain what RTP and ACH are, how they work, and how they differ from each other.

Real-Time Payments vs ACH: A Comprehensive Comparison for Modern Payments #paymentsolution #paymentmodernization #ach #RealTimePayments #paymenttechnology #Techzert

What’s the difference between an ODFI and an RDFI in ACH payments? Understanding their roles is key to managing secure and compliant transactions. Learn more in our latest blog: https://bit.ly/3B0BQkw

Stax Payments ACH Payment vs Wire Transfer: What’s the Difference and Which Payment Method Should You Use? According to a 2023 study by Forrester, 69% of online adults in the US said they’d used electronic payments at least once in the past three months. The Brainy Insights valued the digital payments market at $102.60 billion in 2022 and estimated it to reach $510.30 billion in 2032. https://lnkd.in/gVRY-jAu

TCB Pay Financial Services Expands to ACH Payments: The Flexible Alternative to Credit Cards "ACH payments give our clients a flexible and secure way to streamline their transactions without the dependency on credit cards," said Subhajyoti Krishna Ghosh Moulick, CTO of TCB Pay. "By incorporating this service into our platform, we are further empowering businesses to take control of their financial operations with maximum efficiency and minimal cost." https://lnkd.in/eVGmtD-p Johanna Aidan Benjamin Haguel Laurie-Anh Lefranc Evina Lindsey Redmond Skyler Munoz Nathalia Medina #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

Interesting write-up yesterday by #KevinWoodward @ #digitaltransactions re new #Chase bank payment options for #SMB clients. Is it just me or is this a super-pricey payment option? An excerpt: "The ACH and real-time payments service are pay-as-you-go, with no monthly fee, says Jameson Troutman, Chase head of product for small business, via email. Standard ACH fees are $2.50 for each payment up to 10 per month and 15 cents per payment above 10. Same-day ACH and real-time payments are priced at 1% of the transaction value up to a maximum of $25 per transaction." Full story here: https://lnkd.in/eJWBcsVW

📢 Excited to see TCB Pay featured in FF News | Fintech Finance. The article highlights how we’re simplifying #ACHpayments, offering businesses a secure, cost-effective, and efficient way to handle transactions. Check it out here: https://loom.ly/heZl2go #TCBPay #ACHPayments #Fintech