Starting on September 23, 2016, Same Day ACH Payments are set to start at US financial institutions which will have a huge impact on how payments are processed in America. President and CEO of National Automated Clearing House Association (NACHA) Janet O. Estep notes “Financial institutions see the value in providing new, faster payment options to their customers with certainty and surety, and Same Day ACH allows them to do that in 2016.”
The reach of Same Day ACH will be vast as 86% of America’s largest financial institutions will be offering these services to all of their clients, and the remaining 14% will offer it to selected clients. This exemplifies a promising movie in the right direction for business-to-business payments and payroll in the US.
Infographic on Same Day ACH Readiness (Graphic: Business Wire)