Welcome to the May 2026 Innovating Payments Executive Summary.
In this issue, Federal Reserve Vice Chair for Supervision Michelle Bowman says the Fed, the Treasury Department, and the Office of the Comptroller of the Currency (OCC) will soon hold a public-private roundtable on fraud. Bowman explained that roundtable participants will discuss their strategies to fight payments fraud, highlight successful informal data-sharing and prevention methods, and identify additional cross-sector or government actions that could support these efforts.
In other news, President Donald Trump sends a clear message to bankers. He intends to advance digital asset legislation and says he will not allow traditional financial institutions to derail it, according to The Street Roundtable. Although Trump’s influence on the legislation is real, it is not enough on its own to push the bill through the Senate.
In addition, Nacha announced at its Smarter Faster Payments 2026 conference that the Same Day ACH payment limit will increase to $10 million on September 17, 2027. In Q1 2026, Same Day ACH transactions rose 23.6% to 403 million, with their value exceeding $1 trillion for the second consecutive quarter.
Meanwhile, financial institutions and service providers sending instant payments over the FedNow Service have access to a new risk-mitigation tool that enables them to send instant payments with confidence, according to a news release.
Further supporting this move toward instant payments, a PYMNTS Intelligence report in collaboration The Clearing House shows real-time payment rails have much lower fraud rates than traditional methods. Yet, many financial institutions remain on the sidelines, limiting themselves to receive-only participation.
Finally, mark your calendars for NEACH’s 2026 Future of Payments Symposium, November 2 - 3, 2026, at Newport Harbor Island Resort in Newport, RI. The Future of Payments Symposium is an annual event where strategic leaders discuss new opportunities, risks, and success strategies, offering valuable insights and networking.
Read on to learn more.
Top Headlines
Fed’s Bowman Says Agencies to Host Fraud Roundtable
During remarks at the 2026 Women in Housing and Finance Symposium, in Washington, D.C., on May 5, Federal Reserve Vice Chair for Supervision Michelle Bowman said the Federal Reserve Board of Governors, the Treasury Department, and the OCC will soon hold a public-private roundtable on fraud.
Bowman said roundtable participants will share what they are doing to combat payments fraud, what informal data-sharing practices and prevention mechanisms have proven effective, and what additional cross-sector or government efforts would be most helpful in this fight.
To read Bowman’s comments in their entirety, click here.
White House Signals Priority Push on Digital Asset Market CLARITY Act
President Donald Trump used a gathering at Mar-a-Lago to deliver a clear message to bankers about the CLARITY Act: the administration intends to advance digital asset legislation — and will not allow traditional financial institutions to derail it, according to The Street Roundtable.
Banking groups have spent months raising concerns with senators, arguing that proposed stablecoin rewards programs within the CLARITY Act could undermine traditional deposit accounts. This lobbying effort has contributed to delays in the bill's progress in the Senate. President Trump explicitly pushed back, stating that the White House would protect the market-structure legislation from interference by the banking sector.
According to the publication, Trump “reiterated his belief that the U.S. must remain a leader in the digital asset market, pointing out that: ‘It’s become mainstream.’” Although Trump’s influence on the legislation is significant, it is not sufficient on its own to push the bill through the Senate.
However, the Senate may run out of time.
“If the Senate Banking Committee manages to schedule and complete a markup by mid-May, the bill could theoretically reach a full Senate floor vote by June or July, leave time for reconciliation with the House version, and land on the President’s desk before the August recess,” says the Cryptotimes.oi.
NEACH will continue to provide updates as they become available.
Nacha
Same Day ACH Per Payment Limit to Increase to $10 Million
The Same Day ACH per payment limit will rise to $10 million under a Rule change approved by the Nacha membership, Nacha announced at its Smarter Faster Payments 2026 conference on April 27, according to a news release.
The increase takes effect Sept. 17, 2027, and will be the third increase in the history of Same Day ACH. The initial $25,000 maximum was raised to $100,000 in 2020, and then to $1 million in March 2022.
“Nacha has been hearing from ACH Network users that they wanted a higher limit, and we are pleased to meet that need,” Jane Larimer, Nacha President and CEO, said in the release. “With its speed and security, Same Day ACH is helping to meet the demand for faster payments.”
According to Nacha, raising the limit to $10 million is intended to expand Same Day ACH into a wider range of use cases, including invoice and tax payments, insurance claim disbursements, payroll funding, merchant settlement, and cash concentration.
Same Day ACH Gains Lead to First Quarter ACH Network Growth
In addition, double-digit growth in Same Day ACH volume and value helped propel the ACH Network to a strong start in the first quarter of 2026, according to a Nacha news release.
Same Day ACH transactions reached 403 million in the quarter, reflecting a 23.6% increase over Q1 2025. The total value of those transactions climbed to $1.1 trillion — a 22.1% year-over-year rise — marking the second consecutive quarter in which Same Day ACH value surpassed the $1 trillion threshold.
B2B payment volume also grew strongly, with nearly 2.1 billion transactions processed in the first quarter, a 9.4% increase over the same period last year.
“The strong growth in both Same Day ACH and B2B payments reflects the strength of the ACH Network,” Jane Larimer, Nacha President and CEO, said in the release. “ACH payments are moving the nation’s businesses away from checks, and Same Day ACH is helping to meet the demand for faster payments.”
For full details, click here to download the infographic.
FedNow®
FedNow Service Network Intelligence API Launched April 28
Meanwhile, financial institutions and service providers sending instant payments over the FedNow Service have access to a new risk-mitigation tool that enables them to send instant payments with confidence, according to a news release. With the network intelligence API, FedNow participants can access receiver account-level data observed on the service, adding an extra layer of information to help them assess the risk of a potential payment. The API launched on April 28 for early adopters, joining Federal Reserve Financial Services’ (FRFS) suite of fraud and risk mitigation features.
“The network intelligence API delivers instant, network-level data insights that complement participants’ existing risk management capabilities, providing more information — and confidence — before a transaction is made,” Nick Stanescu, Executive Vice President and Chief Executive of the FedNow Service, said in the release. “This advancement reinforces our commitment to strengthening risk controls while maintaining the speed and reliability that define the FedNow Service.”
As noted, the network intelligence API joins a suite of existing FedNow risk management tools. To help combat authorized push-payment fraud, the FedNow Service is also exploring how to more easily enable Payee Name Verification(Off-site), part of the FedDetect® Notification Services suite, for real-time needs. This would provide institutions with an added layer of protection by confirming whether a payee’s name matches the account details before a payment is sent.
These advancements reflect a broader industry focus on strengthening safeguards as instant payment systems, like FedNow, gain traction. The conversation around real-time payments is increasingly centered not just on technological progress but also on building trust and addressing concerns about fraud.
Real-Time Payments
Reality Check: Fact vs. Fiction in Real-Time Payments Fraud
When it comes to real-time payments fraud, says PYMNTS.com: “The biggest obstacle to real-time payments adoption may not be fraud, but the fear of fraud.”
It goes on to say:
This concern is addressed in depth by “Reality Check: Fact vs. Fiction in Real-Time Payments Fraud,” a PYMNTS Intelligence report produced in collaboration with The Clearing House. The report puts hard data against widely held assumptions, and the gap is striking: real-time payment rails carry substantially lower fraud rates than traditional methods, including checks, wires, and ACH. Yet many financial institutions remain on the sidelines, limiting themselves to receive-only participation.
To underscore these findings, consider the compelling statistics below:
Legacy rails face a higher risk of fraud than real-time payments. Although 63% of firms report check fraud, just 2% report fraud on RTP® or FedNow.
The Clearing House reports that fraud on the RTP network is negligible, with only 123 incidents out of 35 million transactions in April 2025. In contrast, ACH debits and wire transfers accounted for 38% and 30% of fraud, respectively.
The Faster Payments Barometer indicates that real-time payment fraud is largely manageable, with only 3% of financial institutions (FIs) reporting a "significant" impact. Most report "slight" or "moderate" incidents, or none at all.
For more on this topic and to gain access to the full report, click here.
NEACH
As you can see by these headlines, the payments landscape is shifting faster than ever. Staying ahead has never mattered more. As your strategic partner, NEACH is here to ensure you don't have to navigate it alone.
If you’re looking for a great place to start, mark your calendars for NEACH’s 2026 Future of Payments Symposium, November 2 - 3, 2026, at Newport Harbor Island Resort in Newport, RI. The Future of Payments Symposium brings together strategic decision-makers to explore emerging opportunities, evolving risks, and strategies that drive long-term success. This annual event offers high-level insights and peer connections that matter.
Whether you’re looking to sharpen your expertise or simply connect with other industry professionals, this conference is for you! Stay tuned. Registration is opening soon!
NEACH - New England Automated Clearing House Association is a neutral, member-focused advocate. Our role is to give you the intelligence, context, and connections you need to make informed strategic decisions. We bring together industry leaders, policymakers, and innovators so you can evaluate innovation through the lens of your institution’s mission and market strategy. For more information, visit neach.org.