Real Time Payments: What You Need to Know

Real Time Payments: What You Need to Know focuses on the changing payment world. Nacha’s Rob Unger joins the podcast to share real time #payments explained in detail for the #accountspayable, #accounting and treasury community. One of the first issues real-time payments vs wire transfers is examined in some detail.
Of course, since Unger is from Nacha, one of the first issues examined is: is same day ach an instant payment. This becomes especially relevant due to the increase scheduled for March when the limit will go to $1 million. Reals time payments are one of several new payment tools now available to the business community. That is why AP Now and Mary Schaeffer believe it is critical to have real-time payments explained in terms the average person can understand.
One of the issues surrounding the possible implementation is real time payments and fraud. It is not a matter to be looked at lightly. It is imperative that end users are careful with their credentials, which doesn’t always happen. That caveat being noted, changes in payments for accounts payable and accounting is an issue everyone needs to address.
Whether it’s zelle venmo paypal, nacha same day ach or something else, you need to arm yourself with the information you need to make an informed decision. We see companies everywhere debating about checks wires real time payments and other options. Real-time payments vs checks may be an issue as checks continue to prove problematic. The future of real time payments is discussed at the end of the chat as well as preparing for real time payments in the business world. The real-time payments system is here to stay.