ACH (automated clearinghouse) transactions have been on the rise during the COVID-19 pandemic as businesses began moving to electronic payment adoption. Recent reports show the volume of these networks grew by 6.1% in the fourth quarter of 2021, helped along by healthcare claim payouts and...
Restrictions on in-person interactions during the pandemic forced businesses to seek digital alternatives to paper checks as manual processes became impractical or impossible. In their search for solutions, many firms discovered, or rediscovered, the benefits of a familiar standby: the ACH transfer. ACH payments, originally...
Axle, a payments automation and financing platform for the freight and logistics industry, on Thursday (March 10) unveiled its new carrier payments solution, Axle Wallet, which allows freight brokerages and shippers to pay their carriers with their own capital through Axle’s payments network. Axle Wallet...
Government bureaucracy and paper checks may have a long history together, but ACH is making inroads as a fast, reliable and paper-free alternative. In the Real-Time Payments Tracker, the Rhode Island Department of Business Regulation’s Beth Dwyer explains how ACH allows businesses and consumers alike...
Deciding whether to create a digital dollar was a key part of an executive order President Joe Biden announced Wednesday morning (March 9) to create a uniform national policy on cryptocurrencies and other digital assets. Read more: Biden Issues Executive Order to Fast-Track Crypto Policy...
One of the greatest pain points for businesses across all sectors during the pandemic has been manual payments. A significant share of organizations continue to use paper checks for various business-to-business (B2B) and business-to-consumer (B2C) transaction needs, but these resource-intensive payments often present logistical challenges...
The Bank of London, the first purpose-built global clearing agency and transaction bank, has announced that it has become a directly connected settling participant (DCSP) with the Faster Payment System, a press release said. The Faster Payment System is the U.K.’s real-time payments infrastructure, allowing...
ProducePay, which offers a marketplace to connect produce growers with capital and data, has unveiled a product called Quick-Pay+ that it said will offer growers access to pre-vetted customers and improved cash flow, according to a Friday (Feb. 18) press release. Using Quick-Pay+, ProducePay said...
The move to embed payments into all manner of customer experiences — be that on platforms, through disbursements, or even via cryptocurrencies — is a process that demands collaboration. “Multiple types of payments demand multiple approaches,” Mastercard Send Executive Vice President Liz Oakes told Karen...
