According to a recent study by research advisory firm Aberdeen Group , companies that rely on paper checks spend more than $11 on average per payment. Companies that rely on electronic payments such as echecks spend 38% less per payment. Clearly, electronic checks (echecks) save companies..
Internet bill payments via ACH payment processing continue to grow while paper checks declined during third quarter 2009. According to NACHA , transactions of WEB e-checks for ACH online bill payments, totaled 562.6 million, up 7.6% from 522.9 million in 2008’s third quarter.The accounts..
Electronic payment processing is continuing to expand within utility companies as more consumers are paying bills electronically rather than writing paper checks. ACH payments have long been popular for utility bill payments. ACH is a low cost method of accepting payments for utility..
A set of rules governing the exchange of a new type of all-digital echeck will be released Electronic Check Clearing House Organization (ECCHO) The rules would permit banks to offer digital checks that work on mobile phones. The rules would apply only to transactions between the 2,268..
The Federal Reserve Bank of Boston has issued a report on consumer usage of electronic payment methods.According to the study:* Consumers use a payment card to pay for 52.9% of monthly bills. Payment cards include debit, credit and prepaid.* Consumer adoption of debit and credit cards, for..
NACHA is the rules governing organization for the ACH network. The organization has been receiving reports about a scam being perpetuated that consumers and businesses must avoid.The scam is a classic phishing scheme. Emails are sent to both individuals and companies that appear to have been sent..