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According to a Nacha press release on July 30, same-day ACH payment volume in the second quarter of 2026 surged 29.5% year-over-year to 435.7 million payments, with total payment value increasing 28.1% to $1.3 trillion. Overall ACH network transaction volume grew 6.2% to 9.3 billion payments, and value rose 11.1% to $25.9 trillion. B2B payments grew 9.9%, and P2P payments increased 21%. Nacha plans to raise the same-day transaction limit to $10 million starting September 17, 2027.
The policy direction for fintech companies to directly access Federal Reserve payment rails is becoming clearer, yet industry discussions on post-access risk and responsibility allocation remain insufficient. The author notes that eligibility is merely the starting point; the real challenge lies in whether operational standards, liability chains, and regulatory pace can keep up with expanded access.
The Federal Deposit Insurance Corporation (FDIC) approved Augustus's (formerly Ivy) deposit insurance application on July 31. The company aims to replace traditional paper-based clearing methods with code, accelerate payment settlement to meet artificial intelligence needs, and plans to build a "global dollar bank" for financial institutions worldwide.
Fiserv's new CEO Takis Georgakopoulos said at the earnings call that the company is evaluating its businesses to boost Clover merchant services revenue, has exited student loans, ATM, and India operations, and plans to invest $100 million in technology in the second half of the year. Clover's second-quarter revenue grew only 2%, impacted by hardware sales and Argentina, and the company expects full-year growth to fall to mid-single digits, but the long-term target remains 15%-20%.
During its earnings call, Block revealed it is exploring pricing for AI tools in Cash App and Square but has not yet determined a model. The company has launched tools such as Moneybot and Managerbot and plans to choose the optimal approach through experimentation.
Toast is deeply embedding AI into restaurant operations, with its first AI workflow product, Toast IQ Grow, expected to reach $10 million in annual revenue. The company posted second-quarter net income of $154 million, added 9,500 locations, and announced partnerships with BWH Hotels and Kung Fu Tea.
After reporting second-quarter results, FIS announced it would evaluate selling certain products in its capital markets division that do not align with its overall strategy. Revenue in that unit grew only 3.5%, and professional services revenue fell 17%, prompting the company to lower its full-year guidance. CEO Stephanie Ferris said she would respond proactively and dismissed competitive concerns from Visa's Pismo.
U.S. President Trump on Monday again publicly endorsed the Credit Card Competition Act, which seeks to weaken Visa and Mastercard's dominance in credit card transaction fees. He mentioned the bill while endorsing Kansas Senator Roger Marshall's reelection campaign, calling it an effort to stop "runaway swipe fee extortion." The bill would require large banks to ensure that each consumer card transaction offers at least one alternative network to Visa or Mastercard for merchants to choose from.
Visa announced on Monday that it has agreed to acquire cybersecurity and fraud prevention company BioCatch for $2.4 billion, aiming to strengthen its service portfolio against AI-driven digital crime. The San Francisco-based card network plans to purchase the Israeli company from Permira investment funds and other shareholders. BioCatch's AI and machine learning solutions analyze thousands of application, behavioral, device, and network signals in real time to distinguish legitimate users from fraudsters. This acquisition is Visa's second major deal in the fraud defense sector within two years, following its purchase of UK cybersecurity company Featurespace for approximately $1 billion in 2024.
The original deadline for the first major milestone of U.S. open banking quietly passed this spring. The author argues that the delay is highly detrimental to the payment ecosystem and the financial services sector. Europe's mature open banking legislation promotes instant payments and consistent experiences, while U.S. financial institutions' procrastination and reliance on screen scraping are driving some fintech companies to friendlier markets, ultimately harming U.S. consumers.