Good stuff about the ACH debit/same day debit Good stuff about ACH ...
Good stuff about the ACH debit/same day debit Goodness
Consumer Business or Both? Both Consumer Business Business Business Business Business Consumer Both
Recurring allows for on-time payments without on-going action Additional protections Cost effective Predictable cash flow Higher collection rates Additional system controls around origination SDA- faster return possibility SDA- consumer convenience, bill/balance management No action req of Receiver, other than authorization
Good stuff about ACH debit compared to other debit products? Check – Debit Card – other? Debit Card Debit Card (CNP) Both Check Card Both Both Card Card
Goodness No interchange fees Better authorization language/dispute resolution Additional representment (NSF/UNC) Safer-storage of account information Card management (comp/expired/lost/stolen) Stickiness Simpler regulatory environment Merchant account reconcilement Authorization process (AVS, etc) less can “go wrong”
Issues Identification: message, microtweak, moonshot Issue Debit blocks/unopened filter
Resolution Option(s) Notification in trading agreement terms/invoice Education and Navigation (get to the right people)
Level of Effort: Message, Microtweak, Moonshot Microtweak
Transaction identification during reconcilement Small business considered as “corporate” under Rules Unauthorized return and fee – lack of in-network resolution
Friendly fraud/burden of proof No account ownership validation No funds verification No internal ability to verify structure of account number Too many SEC codes NOC management for ad hoc payments Return and NOC received for same debit entry Inconsistent NOC processes by RDFIs Vague authorization requirements under Rules Potential to overwrite “good” data in NOC process Biller internal practices make setting up debits difficult Inability to select debit date Servicing issues discontinuing recurring debits Shady business practices tied to recurring debit Consumer understanding Lead time requirements for changes/batch submission
FI product (allow receiver to decision items) API Trading partner agreement terms Transaction remittance Supplier portal Education Rule change Additional Return Reason Code for dispute Add dispute infrastructure to Network RDFI investigation obligation Eliminate WSUD Threshold fee application
Moonshot Microtweak Moonshot Message Moonshot Moonshot
Consumer Business or Both? Both Consumer Business Business Business Business Business Consumer Both
Recurring allows for on-time payments without on-going action Additional protections Cost effective Predictable cash flow Higher collection rates Additional system controls around origination SDA- faster return possibility SDA- consumer convenience, bill/balance management No action req of Receiver, other than authorization
Good stuff about ACH debit compared to other debit products? Check – Debit Card – other? Debit Card Debit Card (CNP) Both Check Card Both Both Card Card
Goodness No interchange fees Better authorization language/dispute resolution Additional representment (NSF/UNC) Safer-storage of account information Card management (comp/expired/lost/stolen) Stickiness Simpler regulatory environment Merchant account reconcilement Authorization process (AVS, etc) less can “go wrong”
Issues Identification: message, microtweak, moonshot Issue Debit blocks/unopened filter
Resolution Option(s) Notification in trading agreement terms/invoice Education and Navigation (get to the right people)
Level of Effort: Message, Microtweak, Moonshot Microtweak
Transaction identification during reconcilement Small business considered as “corporate” under Rules Unauthorized return and fee – lack of in-network resolution
Friendly fraud/burden of proof No account ownership validation No funds verification No internal ability to verify structure of account number Too many SEC codes NOC management for ad hoc payments Return and NOC received for same debit entry Inconsistent NOC processes by RDFIs Vague authorization requirements under Rules Potential to overwrite “good” data in NOC process Biller internal practices make setting up debits difficult Inability to select debit date Servicing issues discontinuing recurring debits Shady business practices tied to recurring debit Consumer understanding Lead time requirements for changes/batch submission
FI product (allow receiver to decision items) API Trading partner agreement terms Transaction remittance Supplier portal Education Rule change Additional Return Reason Code for dispute Add dispute infrastructure to Network RDFI investigation obligation Eliminate WSUD Threshold fee application
Moonshot Microtweak Moonshot Message Moonshot Moonshot
