May 20, 2015
MasterCard Send is faster then ACH payments
While the Federal Reserve outlined a plan to update the ACH payments system, Mastercard has enabled a payment system that allows merchants to skip ACH and use established debit card networks to send funds much faster. Mastercard Send will allow money transmitters to send funds directly to a consumers checking account. These business to consumer disbursements have various uses such as for insurance providers, online merchants and other services that must reimburse, pay or transmit funds to any consumer.
Source: http://www.mobilepaymentstoday.com/articles/mastercard-send-debuts-as-alternative-to-ach-payments/