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Making payments move faster

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Question: 
What changes were there for payments processing?
Answer: 

The Federal Reserve System opened its FedNow service in July 2023. Nacha’s same-day ACH program continued growing, with third-quarter 2023 volume and value increases of 20 percent and 27.1 percent, respectively. The second phase of Nacha’s Micro-entries rule was effective March 17, and its Third-Party Sender Rule went into effect on September 30.

Learn more about John Burnett’s Annual OPERATIONS Compliance Recap webinar.

First published on 12/31/2023

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