In payments, speed thrills. But as NACHA CEO and President Jan Estep told PYMNTS’ Karen Webster, speed isn’t everything. Innovation is key and relieving pain points that previously were just “part of the process” can open up commerce in ways previously unimagined, as solutions showcased at PAYMENTS 2017 and winners from the recent NACHA Payments Awards show.
NACHA may have assured some banks that Same Day ACH hasn’t led to an increase in payments fraud, but concerns remain widespread about how the initiative and other faster payments efforts will reduce the window of opportunity for FIs to detect and prevent an incident.
Can faster payment tools put on demand caregivers on the same economic footing as full-time workers? Bryan O’Malley, Care.com’s VP of payments, talks with PYMNTS about how faster payments are transforming the market by offering caregivers of children, the elderly, pets and homes, among others, access to benefits like health care and tuition.
While P2P transactions are gaining popularity, can they address the age-old discomfort of splitting bills among friends? PYMNTS caught up with Venmo’s COO Mike Vaughan about some of the “awkwardness of money” that P2P can create, and the role of social media — and faster payments — in overcoming them.
How fast is fast enough? And how fast will people get used to fast — as in faster payments? Turns out quick is not just for Amazon deliveries or upload speeds. NACHA, with its Same Day ACH offering, is leading the charge for faster payments in the U.S., and our latest Data Drivers, featuring PYMNTS’ Karen Webster and NACHA CEO Jan Estep, explored the possibilities.
While FinTechs and innovators continue to disrupt the world’s payment systems at a dizzying pace, traditional banks have to stay on-board if they’re to compete and stay relevant.
Payments solution provider E-Complish recently championed SMEs’ joining of the ACH system, urging entrepreneurs to overcome the hurdles to gain benefits of a technology that can reduce friction when sending and receiving payments.
The June Faster Payments Tracker™, powered by NACHA, highlights the latest trends and developments on how banks and FinTechs are investing in faster payment infrastructure and how these payment technologies are altering the way business is conducted.
In the second installment of the #KillTheCheck series, Drew Edwards, CEO of Ingo Money, highlights ways companies can use push payments to help employees get more of what they earn, faster while significantly trimming their back-end check-writing costs and operations.