The September edition of the PYMNTS Faster Payments Tracker, powered by NACHA, highlights notable news and developments from across the faster payments landscape, including how banks and other financial institutions are preparing for the arrival of Same Day ACH debits.
And then there was Phase 2. Same Day ACH enters the newest stage of deployment, where the U.S. payments system is getting a bit of an overhaul — bringing same-day debits into the mix. NACHA COO Jane Larimer discusses what to expect, as the payment (and settlement) landscape is changing.
The Payment Systems Regulator (PSR) and Bank of England (BoE) announced Wednesday (Sept. 13) that the Payment System Operator Delivery Group (PSODG) has completed the necessary steps to meet a mandate handed down by regulators.
It’s been more than two years since the Federal Reserve issued its Strategies for Improving the U.S. Payment System paper, in which the Fed outlined initiatives for the payments industry and its stakeholders to promote progress.
In an interview with PYMNTS, Jerry Norton, vice president of financial services industry at IT services and consulting company CGI, said that in a global sense, the broad movement toward real-time payments is currently shaping the payments industry.
Icon Solutions announced news it had begun testing connectivity between its Instant Payments Framework (IPF) and U.S.-based limited liability company The Clearing House’s new faster payments infrastructure.
When organizations take in and pay out purchase orders and invoices, what does the perfect payment look like? Bob Sneed, vice president of corporate payments for the payment processing and information management service company WEX, said in a recent interview with Karen Webster that the profile will be different for every organization.
Laura Steele, CEO of Regional Payments Association ePayResources, says that after demonstrating Y2K-like preparedness to ensure the smooth implementation of Phase 1 last year, the Phase 2 rollout is generating less buzz because FIs expect a repeat (aka no drama) performance. Steele and Ross McKay, TD Bank’s SVP of Corporate Products, discuss why FIs are less anxious this time around.
NACHA, the Electronic Payments Association, announced Friday several staffing changes along with realignment of some responsibilities – efforts the overseer of the ACH network said would dovetail with new strategic directions.