IRS Sends 25 Million Economic Impact Payments
The Internal Revenue Service said today that it has issued another 25 million economic impact payments with a value of more than $36 billion in the fourth batch of payments.
Browsing: Payments system
BAFT Makes Recommendations to Create Faster Cross-Border Payments Ecosystem
In a new white paper released today, BAFT, ABA’s global transaction banking subsidiary, recommended several steps to create a faster cross-border payments ecosystem.
The New Digital Frontier Calls for Immediate Digital Cash Standards
New standards designed for the digital era would strengthen security, prevent fraud and finally give consumers more control over their money.
Powell: Fed ‘Not Equipped’ to Service Individual Accounts
Federal Reserve Chairman Jerome Powell today said that his agency is “not equipped to service individual commercial and retail accounts” and that doing so is currently “not permitted under law.”
ABA Files Amicus Brief in Support of Visa Merchant Data Breach Compensation Program
The American Bankers Association yesterday filed an amicus brief in the Texas state court case of Visa v. Sally Beauty Holdings.
IRS, Treasury Announce Next Batch of Economic Impact Payments
The Internal Revenue Service and Treasury announced today that the next batch of economic impact payments will be sent to taxpayers this week, with a payment date of Wednesday, March 24.
Financial Trade Groups Address Confusion Around Economic Impact Payment Date
In response to confusion about when consumers can access the latest round of economic impact payments, the American Bankers Association joined a coalition of nine financial trade groups today in issuing a statement confirming that the Internal Revenue Service chose March 17 for EIP funds to become available.
Zelle Payments Now Able to be Cleared, Settled Over RTP Network
The streamlined instant payment experience is expected to benefit consumers, businesses.
Financial Trade Groups Offer Recommendations to Improve EIPs
As lawmakers consider a new round of direct payments as part of a new COVID-19 relief package, the American Bankers Association and six other financial trade associations offered recommendations to the Treasury Department for improving the economic impact payments process.
J.D. Power: Satisfaction with Small Biz Merchant Services Declines
Small businesses’ satisfaction with merchant services providers took a hit during the COVID-19 pandemic, according to the J.D. Power 2021 Merchant Satisfaction Study released today.