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After more than two years of successful operation in delivering Same-Day ACH payments, Nacha’s request to add a third processing window has been delayed by the Federal Reserve, which says it has to obtain public comment on the concept.
As much as anything, the delay sends some sparks about whether faster payments providers can wait on Fed approval for systems they consider vital to the overall goal of faster payments in the U.S.
Nacha was looking to add another processing window that would provide more flexibility and even faster processing times than the Same-Day payments that now occur within hours in most cases. In effect, with the Fed throwing up a stop sign, the new processing window could be delayed
Read full article » http://www.paymentssource.com/news/fed-pumps-the-brakes-on-nacha-plan-for-faster-same-day-ach
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