04:16 PM
Bryan Yurcan
Bryan Yurcan
Connect Directly

Payments 2012: The Conference in Quotes

Payments 2012 has come and gone already, and the three plus days the conference took place in Baltimore was a whirlwind of activity. Organized by NACHA - The Electronic Payments Association, the industry conference attracted thousands who came to hear about new developments in the payments space, to network and, of course, to have fun. Below are some of Bank Systems & Technology's choices of the most interesting and juicy quotes of the conference.
7 of 7

7. Reducing Exeptions

Consumers and businesses alike want convenient, versatile, and secure payment options. As such, a growing number of businesses and consumers are making the conscious decision to use electronic payments such as Direct Deposit via ACH and Direct Payment via ACH. To continue to meet the needs of these businesses and consumers and retain confidence in electronic payments systems, it is important that we work to reduce exception volume.

— Janet O. Estep, president and CEO of NACHA, commenting on a study conducted by the group on bill payment exceptions. The study showed that .58 percent of total bill payments (including checks, ACH, cards and cash payments) in 2011 were not able to be posted accurately upon receipt by billers. Based on this exception rate, NACHA estimated that 130 million payments required exception handling, costing the industry approximately $720 million annually.


Bryan Yurcan is associate editor for Bank Systems and Technology. He has worked in various editorial capacities for newspapers and magazines for the past 8 years. After beginning his career as a municipal and courts reporter for daily newspapers in upstate New York, Bryan has ... View Full Bio

7 of 7
Comment  | 
Print  | 
More Insights
Newest First  |  Oldest First  |  Threaded View
Register for Bank Systems & Technology Newsletters
White Papers
Current Issue
Bank Systems & Technology
BS&T's 2014 Elite 8 executives are leading their banks to success, whether it involves leveraging the cloud, modernizing core systems, or transforming into digital enterprises.
Bank Systems & Technology Radio
Archived Audio Interviews
Join Bank Systems & Technology Associate Editor Bryan Yurcan, and guests Karen Massey and Jerry Silva from IDC Financial Insights, for a conversation about the firm's 11th annual FinTech rankings.