Browsing: Payments


NACHA, the electronic payments association, today announced that its members voted to finalize a rule change that will accelerate ACH settlement, introducing two extra windows during weekdays — morning and afternoon — for credit transactions. The rule provides for fees so that receiving financial institutions can recover costs associated with handling same-day ACH.


Nearly two-thirds of consumers have not heard of chip card technology — also known as EMV — even though 80 percent are concerned about the security of their debit and credit transactions, according to a recent survey commissioned by Chase, which said it will have converted more than 70 percent of its cards to EMV by the end of 2015.


It’s hard to keep up with new developments in payments, says former ABA Chairman Jeff Plagge. But banks need to stay on top of changes to serve their customers.

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