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Consumer demand and regulatory expectations have increased the need for an expedited payment system in the U.S. Learn how Early Warning’s Zelle fits into the faster payments landscape and how the company is working to build a network that will revolutionize consumer and business experience. In this session you will learn: What Zelle is and some details around the plan for launch How Early Warning is leveraging its expertise in fraud and risk, combined with the clearXchange network, to transform payments The value of the network, including how the network helps financial institutions stay at the center of their consumers’ financial lives How FIs ...
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For your reading pleasures. It's been a little over two weeks since the roll out of Same Day ACH credit processing. What have you noticed? Seems to be a pretty routine implementation thus far. Please see article attached provided by digitaltransactions.net. Same Day ACH Clearing
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ePayAdvisors has an open position and we are looking for great people to join our team! Join the ePayAdvisors team today!
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ePayResources is looking for a Payments Education Specialist. Visit our website below to find out how you can join our team! Join the ePayResources team!
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Check Preservation

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Click on the provided link to show proof of check preservation. The U.S. and their love for the "Legacy Payment Rail." (article provided by www.pymnts.com) http://www.pymnts.com/news/b2b-payments/2016/patriot-software-payroll-paper-check-ach-direct-deposit-payment-rail-electronic-manual/
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Not a Venmo user? See how you are being left behind in the alternative payments mainstream. Venmo, originally a P2P payment method app is now testing the merchant payment waters. This article from www.pymnts.com informs you of the growth of the app and what they are doing next. http://www.pymnts.com/news/mobile-commerce/2016/venmo-social-commerce/
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As of last week, 269 customers had signed up to receive the new Batch Origination Report , which was designed to assist FedACH customers in their efforts to identify forward batches that could potentially qualify as same day after Phase 1 implementation. Financial institutions interested in receiving this report can contact FedACH and Check Services Customer Support at (877) 372-2457 to complete the subscription process. Additionally, the Fed will be announcing a schedule for several Same Day ACH prep calls they will be hosting in July and August to provide FedACH financial institution customers with specifics on their implementation, processing ...
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Effects EMV issuing has on counterfeit card fraud and the new way fraudsters are getting around it. Link provided by cardnotpresent.com. http://cardnotpresent.com/news/default.aspx?id=16770
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Please glance at the article provided by cardnotpresent.com regarding relief for merchants facing sharply increased charge-backs since the October 2015 liability shift. http://cardnotpresent.com/news/default.aspx?id=16704
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Still debating whether or not to be an EMV issuer? Ever wonder how significant card fraud is? Click on the provided link and find out. http://cardnotpresent.com/news/default.aspx?id=16577
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As financial institutions work to review and complete their Cybersecurity risk assessments, the topic of Cybersecurity Insurance has some scratching their heads on what to do and what coverage is needed. It is important to understand, that Cybersecurity insurance does help to transfer some of the financial risk when/if there is a breach. However, it is lacking in the area of coverage for things like intellectual property theft, reputation damage and loss of business impacts triggered by security breaches. As you are considering obtaining Cybersecurity insurance as part of your risk management strategy, be sure you understand the following: 1. What ...
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As regulators work to develop a framework to support responsible innovation in the federal banking system, SWACHA is asking our members to provide input on how regulators can help financial institutions support this initiative. Please use the present survey-monkey link to answer a few questions regarding the subject to later be provided to regulators. We would appreciate feedback by May 30, 2016: https://www.surveymonkey.com/r/BNGXHDG This is intended to help our members feel more comfortable when it comes to getting their feet wet with the ever changing innovations happening in the payments industry.
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With ongoing research on bio-metrics authentication, perhaps it is time for the industry to advance past the use of PIN's. Please take a look at this quick read provided to us the Federal Reserve Bank of Atlanta. Improving Customer Authentication: Is the PIN Past Its Prime?
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According to the National Automated Clearing House Association (NACHA), May is National Direct Deposit Month. Throughout this month various types of businesses will be encouraging the use of direct deposit and direct payment instead of paper checks. According to NACHA A full 82 percent of U.S. workers ─ crossing age, income and other demographic categories ─ are paid by Direct Deposit via ACH, up from 74 percent in 2011. Awareness is also strong, with 79 percent of consumers who do not use Direct Deposit via ACH reporting familiarity with the service, according to the results of a new survey conducted by Javelin Strategy & Research on behalf of NACHA—The ...
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By 2020, in one every four Brits anticipate that they will spend more than £50 a week via mobile payments. That’s how commonplace European consumers who participated in a Visa Europe study expect mobile payments to become. The “Mobile Money” study — which was conducted by Visa Europe between April and May 2015 in Finland, France, Germany, Poland, Spain and the U.K.— revealed that smart devices will replace cash and card transactions as the U.K. mobile payments market is set to reach £1.2 billion a week by 2020. While the average shopper now spends £17 on mobile per week, that number is set to increase by £10 by 2020. “While we’re excited to see consumers ...
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Same-day ACH will soon be a reality for U.S. financial institutions, and the change could mean that certain product offerings and new data about members may become much more lucrative for credit unions. On May 19, the Electronic Payments Association gave the green light to same-day ACH, increasing the movement of funds between financial institutions from once a day to three times per day. The new rules, which are largely based on rules proposed late last year , take effect in three phases beginning Sep. 23, 2016. Among other things, they require all receiving depository financial institutions (RDFIs) to accept same-day transactions and require originating ...
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“Bring Your Own Persona” (BYOP) is a term coined by the Wharton School of Business to describe how customers in the digital age bring a unique profile and set of behaviors to every circumstance. Morgan Beard, Strategic Marketing Director at TSYS , and Bruno Courbage, Senior Director of Product Management at FICO , have applied it toward the creation of a formula for financial institutions to engage with consumers on a deeper level of personalization. They shared with PYMNTS their thoughts on why old methods no longer hold water, what they turned up in their research, and how institutions can best put BYOP into practice moving forward. Why are traditional ...
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By 2017, the number of smartphone users in the U.S. is expected to surpass 200 million, nearly 65 percent of the population. [1] Negotiating security in the face of an ever-growing implementation of mobile devices presents serious challenges for organizations. Risks include the growth of Bring Your Own Device (BYOD) (coupled with a lack of security controls for these devices), loss/theft of devices, and the proliferation of mobile malware. Users need to understand the risks and the steps they can take to minimize them, particularly as cybercriminals often use employees as the entry point into an organization’s network. Below are some key actions ...
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Capitol Focus On May 21, 2015 NACHA hosted its first Capitol Hill Day event of 2015 in Washington, D.C., facilitating a day-long series of meetings between members of NACHA’s Government Relations Advisory Group (GRAG) and congressional staff members from the Senate Banking Committee and House Financial Services Committee, representing two Payments Caucuses – the Senate Payments Innovation Caucus and the Congressional Payment Technology Caucus. GRAG Members continued their outreach and education efforts regarding the ACH Network with particular emphasis on the value of private sector rulemaking and NACHA’s role in governing the Network. Other discussion ...
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U.S. EMV migration is gaining ground because chip cards provide higher levels of security. Education is the first step into understanding what EMV will impact your financial institution and your customers. October 1, 2015 is the date by which the liability associated with EMV shifts to the merchants. Here at SWACHA, we want to keep you informed of these major milestones and provide you with the training and tools to move forward with this important initiative. Together with the EMV Migration Forum we have gathered resources that you may use to educate yourself, your staff and your customers. We know you have choices when it comes to your payments education ...
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