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NewsBriefs

This article contains excerpts from news stories recently posted under Same-day ACH payments soar
Breaking Industry News on our homepage. For links to these and other
full news stories, please visit www.greensheet.com/breakingnews. Nacha reported strong growth in same-day ACH pay-
php. ments, with 355.2 million transactions in the third quarter
of 2024—a 67.5 percent increase over the same period in
2023—totaling $844 billion, up 38.8 percent. Nacha Presi-
dent Jane Larimer noted the ongoing robust adoption and
proposed expansion of same-day ACH hours to better
serve the Pacific time zone, adding 3.25 hours daily for
same-day submissions.
Holiday spending predicted to remain brisk
The National Retail Federation projects U.S. holiday spend- Overall, ACH volume rose 7.4 percent to 8.4 billion pay-
ing to grow by 2.5 to 3.5 percent over 2023 results, with ments, valued at $21.5 trillion. Credit payments reached
total spending expected between $979.5 billion and $989 3.7 billion, while debits, commonly used for bill payments,
billion for November and December. NRF President Mat- totaled 4.7 billion. Business-to-business and healthcare
thew Shay credited a strong job market and wage growth payments rose 12.6 percent and 7.8 percent, respectively,
for supporting consumer spending, which has become a with consumer internet payments up 9 percent and per-
key tradition for many families. Consistent with the NRF’s son-to-person payments up 20 percent. Direct deposits, an
annual growth expectations of 2.2 to 3.5 percent, online ACH staple for payroll, also grew 3.9 percent to 2.1 billion.
and non-store holiday sales are predicted to increase by 8
to 9 percent, totaling $295.1 to $297.9 billion. Larimer highlighted Nacha’s ongoing enhancements to
ACH, including higher limits and accelerated availability,
With Thanksgiving falling on November 28, the holiday aimed at meeting the payments community’s needs and
shopping season will be relatively short, prompting many further boosting same-day ACH usage.
retailers to launch promotional sales early and reduce Real-time payments to boost global GDP
prices, which NRF Chief Economist Jack Kleinhenz noted
are around 1 percent lower than last year. Consumers are A new ACI Worldwide report forecasts that real-time pay-
making online purchases earlier to avoid potential ship- ments will add $285.8 billion to global GDP by 2028 and
ping delays, while retailers are coordinating with ship- lift millions out of poverty by increasing financial inclu-
ping and supply partners to ensure inventory availability. sion. Real-time payments could bring over 167 million un-
Shay highlighted the evolving consumer preference for banked people into the financial system, especially ben-
flexibility across shopping channels. efiting developing countries in Asia and Africa. India’s
Unified Payments Interface is highlighted as an example,
Visa eyes improved commercial with the U.S. also seeing gains; real-time payments are
analytics for merchants projected to help 4.9 million Americans gain bank access,
reducing the unbanked population significantly, ACI not-
Visa partnered exclusively with Analytic Partners to offer ed.
U.S. merchants AI-driven data analytics aimed at optimiz-
ing marketing spend and enhancing commercial growth. The report, covering 40 countries, shows a clear link be-
This collaboration combines Visa’s extensive merchant re- tween instant payments, financial inclusion, and eco-
lationships and consumer spending insights with Analyt- nomic growth, with gains expected for banks and under-
ic Partners' expertise in commercial decision-making. The served groups like young people, women and low-income
goal is to provide merchants with real-time, actionable individuals. Top countries for financial inclusion uplift
analytics, helping them make better-informed advertising include Pakistan, the Philippines, Nigeria and China.
investments in a fragmented data landscape.
Real-time payments are also set to curb the “shadow econ-
Visa Global Head of Merchant Sales Jeni Mundy empha- omy,” cut transaction costs and generate substantial rev-
sized the value of this partnership for merchants seek- enue opportunities for financial services.
ing growth opportunities, noting that effective data use
is crucial for leveraging consumer insights. Nancy Smith, GS interviews Bluefin's Tim Barnett
CEO of Analytic Partners, highlighted the importance of on payment security
understanding consumer behavior to build loyalty and at-
tract new customers. The partnership includes exclusivity For Cybersecurity Awareness Month, Tim Barnett, CIO
on merchant and brand spend optimization offerings and at Bluefin, discussed key payment security issues with
aims to introduce new analytics solutions to drive com- The Green Sheet, including common vulnerabilities, the
mercial success. evolution of data breaches and protection strategies. Bar-
nett highlighted that payment systems are vulnerable due
Visa and Analytic Partners expect this initiative to revolu- to inadequate encryption, lack of tokenization and un-
tionize commercial intelligence by delivering more acces- patched software.
sible, growth-focused insights for U.S. merchants.
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