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..
FBI Reports Thefts The FBI has released findings from its investigation on how cybercriminals are stealing money from the bank accounts of small-mid sized US companies.The thieves then initiate a series of unauthorized bank transfers out of the company's online account in less than $10,000 to..
Research firm Celent predicts savings of $11 billion can be achieved through automation of health-care payment processing. Much of medical payment processing is still paper based. Sorting, reconciling, verifying, posting, and handling paper payment processing payments costs about $22 billion a year..
According to a new study with Qwest Communications, Fiserv and Aspen Analytics , electronic billing clearly benefits that bottom line. By analyzing the customer bill paymentHabits of more than 8 million people over an 18-month time period, the study revealed that how customers receive and pay bills..
The Federal Deposit Insurance Corporation released findings from its National Survey of Unbanked and Underbanked Households. According to the study, more than 25%of all US households are unbanked or underbanked. Most of those households are low-income and/or minority.Unbanked households do not have..
A new report titled the 2009-2010 Payments Processing Benchmark Study has just been released by Taipi . Interesting highlights include:The Federal Reserve Bank System is encouraging migration from paper to image-based check clearing by increasing the fees for clearing paper checks. There are now..