Mobile Commerce

Optimism For Same-Day ACH Payments Rising

A recent survey by ACI Worldwide at the NACHA PAYMENTS conference last month showed that of those surveyed, a majority of financial industry professionals believe that same-day ACH payments will soon become a reality.

In fact, 97 percent of respondents were optimistic that same-day money transfers will be possible within the next five years. Of the professionals surveyed, 92 percent say the believe same-day ACH adds “significant value” to business and corporate bank clients. Close to 75 percent felt same-day payments should be pursued in the industry.

“Same Day ACH provides an option for the consumers, businesses and governments that want to move their money faster,” said Janet Estep, President and CEO of NACHA. “It provides an immediate solution for moving payments faster and creates a building block for tomorrow’s products and services. The ACI survey results clearly demonstrate continued industry support for Same Day ACH and underscore the value and importance of the initiative to better meet the needs of customers.”

Also interesting to note is that 80 percent of the group (106 participants) had made a mobile payment. A majority of those noted they had used QR-based mobile payment models, like the ones available at Starbucks and Dunkin’ Donuts. Apple Pay ranked under both those options in terms of how the financial professionals had paid via mobile.

At the conference, 60 percent of those surveyed said they believe that NACHA will “push forward with same day much more quickly,” noting that time frame would likely be closer to two years.

“A majority of industry innovation is focused on achieving real-time and same day payments, and this is where payment professionals believe significant value can be added to both corporate and business banking customers,” stated the ACI Worldwide news release on the survey.

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