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Wells Fargo is No. 1 Originator of ACH Electronic Payments

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By Business Wirevia The Motley Fool

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Wells Fargo is No. 1 Originator of ACH Electronic Payments

Wells Fargo leads all competitors as its transactions rise by double-digit rate

SAN FRANCISCO–(BUSINESS WIRE)– Wells Fargo & Company (NYS: WFC) is the No. 1 Automated Clearing House (ACH) electronic payment originator among U.S.-based financial institutions, according to NACHA – The Electronic Payments Association. In 2012, Wells Fargo originated 3.5 billion ACH payments- ranging from deposits such as payroll and Social Security to consumer payments for auto loans and insurance premiums. Wells Fargo transmitted 10.7 percent more payments than in 2011; its closest competitor grew by less than half that rate.

“We are very proud to be the largest originator of ACH payment transactions in the country,” said Keith Theisen, executive vice president and director of product management at Wells Fargo‘s Treasury Management Group. “As the volume of ACH payments continues to grow, Wells Fargo‘s size and scale allows us to innovate and invest in technology and in our team members to ensure first-rate solutions for our customers. In fact, we have more Accredited ACH Professional (AAP) team members than any other financial institution*.”

As reported by NACHA, total ACH payment volume in 2012 grew to more than 21 billion transactions, up 4.19 percent from 2011. A total of $36.9 trillion was transferred over the ACH Network, an increase of 8.76 percent over 2011. The increase in native electronic payments that are non-check conversion applications; expanded use of credit payments by businesses and consumers; and the rise in online payments helped to increase overall ACH volume. Wells Fargo‘s share of total transactions represents greater than 16 percent, or nearly one of every six ACH payments in the United States.

About the ACH Network

The ACH Network is a batch processing, store-and-forward system, governed by the NACHA Operating Rules, which provide for the interbank clearing of electronic payments for participating depository financial institutions. ACH transactions are transmitted electronically between financial institutions through data transmission. ACH payments include:

Business, Finance, Occupation & Industry

Bottomline Technologies to Present at NACHA's Payments 2013

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By Business Wirevia The Motley Fool

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Bottomline Technologies to Present at NACHA’s Payments 2013

PORTSMOUTH, N.H.–(BUSINESS WIRE)– Bottomline Technologies (NAS: EPAY) , a leading provider of cloud-based payment, invoice and banking solutions, today announced that Amy Hoke, Vice President, Paymode-X® Product, will be a speaker at the annual NACHA Payments conference being held in San Diego, CA. Ms. Hoke’s presentation will focus on corporate best practices when automating payables globally.

The presentation, entitled “A Corporate Guide to AP Automation”, will be presented from 9:30 to 10:30am on April 22. Co-presenting with Amy is Tom Kusch, Accounts Payable/Expense Manager, Compuware. The speakers will discuss how automating payables can deliver concrete cash, cost and efficiency benefits. Case study examples will be provided illustrating the benefits of using a global settlement network to connect payers with their suppliers.

“Regardless of size, companies today are looking for ways to make payments more efficiently” said Amy Hoke, Bottomline’s Vice President. “While cost reductions have always been a driver for automating AP, making payments globally increases the need for innovative payment solutions that ensure payment integrity and timing. Bottomline’s Paymode-X is uniquely designed to address customers’ more complex payment needs, and as a result Paymode-X has grown to be the largest network of its type in the world.”

NACHA manages the development, administration, and governance of the ACH Network, the backbone for the electronic movement of money and data. The ACH Network provides a safe, secure, and reliable network for direct account-to-account consumer, business, and government payments. Annually, it facilitates billions of Direct Deposit via ACH and Direct Payment via ACH transactions. Used by all types of financial institutions, the ACH Network is governed by the fair and equitable NACHA Operating Rules, which guide risk management and create payment certainty for all participants. As a not-for-profit association, NACHA represents more than 10,000 financial institutions via 17 regional payments associations and direct membership. Through its industry councils and forums, NACHA brings together payments system stakeholders to foster dialogue and innovation to strengthen the ACH Network.

Bottomline’s Paymode-X is a settlement network with more than 200,000 global members exchanging electronic payments, remittance advices and invoices. With Paymode-X, payers can accelerate the conversion of paper to electronic payables and optimize working capital. Vendors enjoy faster access to cash and a streamlined receivables process.

Editorial Note: Bottomline will be exhibiting in booth #223 at NACHA Payments, April 21-24, 2011 in San Diego, CA. For more information or to arrange an on-site meeting, please contact

Source: FULL ARTICLE at DailyFinance