TITLE

Is New Venture A Threat to ACH Network?

AUTHOR(S)
Fest, Glen
PUB. DATE
April 2009
SOURCE
Bank Technology News;Apr2009, Vol. 22 Issue 4, p10
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article offers analysis on the forthcoming joint payment venture between Wells Fargo & Co. and Bank of America Corp. (BofA) in the U.S. The joint venture of the two companies might result into an evolution of a bilateral model that could divert billions of payments from the clearinghouses (ACH) network, causing to add cost to other financial institution that depends on the network. It further states that bilateral direct send deals could impact other areas of the network commons.
ACCESSION #
37805929

 

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