Payments

NACHA Finalizes Same-Day ACH Settlement

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.

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Chase Survey Finds More Education Needed on Chip Cards

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.

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