TITLE

CheckFree Seeks to Seal an ARC Loophole for Crooks

PUB. DATE
June 2005
SOURCE
Bank Technology News;Jun2005, Vol. 18 Issue 6, p12
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article focuses on loopholes in accounts receivable conversion (ARC). Accounts receivable conversion (ARC), which converts consumer checks to electronic transactions through the automated clearing house network (ACH), has emerged as the fastest growing payment application in ACH's history, due to its speed and lower expense versus paper. The National Automated Clearing House Association says more than 1.25 billion transactions were processed via ARC in 2004, an almost 500 percent growth rates.
ACCESSION #
17399633

 

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