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Re: Walmart launches money transfer, at type of ACH

From: Anders Rundgren <anders.rundgren.net@gmail.com>
Date: Sat, 19 Apr 2014 14:11:38 +0200
Message-ID: <535267FA.8030306@gmail.com>
To: Joseph Potvin <jpotvin@opman.ca>, Web Payments CG <public-webpayments@w3.org>
http://www.prnewswire.com/news-releases/nacha-to-demonstrate-project-actions-bank-centric-internet-payment-system-76055362.html

This project failed.  Their EU counterparts have had their versions of this running
since 10-15 years back and it works pretty well although only on a national basis.

Anders

On 2014-04-19 13:56, Joseph Potvin wrote:
> Useful info about NACHA:
> http://www.metcapbank.com/2013_Corporate_Rules_and_Guidelines.pdf
> 
> ~joseph
> 
> On Fri, Apr 18, 2014 at 3:14 PM, Joseph Potvin <jpotvin@opman.ca> wrote:
>> http://www.reuters.com/article/2014/04/17/us-walmart-euronet-idUSBREA3F1ZM20140417
>>
>> A type of ACH (Automated Clearing House.
>> https://www.walmartmoneycard.com/walmart/account/ach-bank-account
>>
>> That's the N.American formal terminology, but is known colloquially in
>> the rest of the world as "Giro Accounts".)  See the current plans for
>> a national Giro in India:
>> http://www.rbi.org.in/Scripts/PublicationReportDetails.aspx?UrlPage=&ID=701
>>
>> The ACH Industry Standards are maintained via:
>> North America: https://www.nacha.org/
>> EU: http://www.eacha.org/
>> However, "Beyond Europe and the US, the international ACH payments
>> market is highly
>> fragmented." Source: www.fpsc.com/DB/TreasuryPulse/PDF/Q310_article3.pdf
>>
>> Joseph Potvin
> 
Received on Saturday, 19 April 2014 12:12:17 UTC

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