Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
NACHA seeks CU information on P2P payments
WASHINGTON (7/28/11)--Credit unions can provide their input on the challenges and advantages presented by the many ways that person-to-person (P2P) payments may be made over automated clearing house (ACH) networks via a comment call issued by the Electronic Payments Association (NACHA). The comment call, which has also been released by the Credit Union National Association (CUNA), presents nine different options for P2P payments that can be made by smartphones, including using prepaid accounts with a given retailer, mobile check scanning, and person-to-person payments that are made online. The comment call asks credit unions to detail which P2P options they use, and to list any advantages or disadvantages to using those options. Credit unions may also suggest potential improvements to NACHA’s operating rules, or the ACH network in general, that would make P2P options easier to use. The comment call also asks if credit union members have experienced any difficulties when they attempted to sign up for mobile P2P payment options. Comments to CUNA must be sent by Aug. 5. NACHA will accept comments until Aug. 12. For the full comment call, use the resource link.


RSS print
News Now LiveWire
The Hill reports House Republicans plan to delay Aug. recess to stay in D.C. until they have enough votes to pass bill on border crisis.
17 hours ago
The FHLBs of Des Moines and Seattle announce they have entered into an exclusivity arrangement regarding potential merger of the 2 entities.
18 hours ago
SunCorp and @AlloyaCorp have announced their intent to merge.
20 hours ago
.@TheNCUA bars former employee of Southwest Communities FCU,Melissa Rosing,from work at any federally insured FI. http://t.co/owtVnPxVZT
20 hours ago
Fryzel added @TheNCUA is fed. governmt, thereby will B criticized, but always tried 2 do what is right. McWatters still 2 B sworn in.2of2
22 hours ago