Next month, same-day ACH will begin its rollout – with a vast majority of financial institutions claiming they’ll be on board. But what are the challenges to faster payments? Is same-day ACH fast enough? How fast is too fast?
As you contemplate these and other questions surrounding faster payments, here are our picks for must-reads this week:
CO-OP TOP PICK
What had us hooked in this week’s news:3 Ways Same-Day ACH May Change CUs
Credit Union Times
An impressive 93 percent of financial institutions say they’ll embrace same-day ACH when it begins its three-year rollout in September. But more than half (54 percent) say their security systems aren’t fully up to the job.
Are We Ready for Faster ACH Payments?
PYMNTS.com
In the first installment of NACHA’s Countdown to Same Day ACH podcast series, Jan Estep, president and CEO of NACHA, joins Karen Webster to discuss where the industry stands as we embark on the final stretch to faster payments finally becoming a reality.
Can Fraud Prevention Keep Up with P2P?
PYMNTS.com
One of the biggest challenges when it comes to fraud prevention is keeping the balance of safeguarding data without introducing friction when onboarding new users.
Should Faster Payments Be, Well, Slower?
American Banker
According to the Federal Reserve Board’s Faster Payments Task Force’s Effectiveness Criteria document, a “very effective” payment approval is defined as taking no more than two seconds. But, as this article asks, “How fast is too fast for irrevocable payments?”
Venmo, Meet Zelle. clearXchange Gets a Rebranding
Finextra
Real-time payments using the clearXchange network have had their share of challenges. But now, at least one of those challenges – namely, remembering the network’s name (the unconventional capitalization alone was an obstacle) – is being overcome: clearXchange is becoming Zelle. Now, how do we pronounce this?
The original article 5 Must-Reads This Week: Fast Read on Faster Payments can be found on Insight Vault.
