NACHA, the ACH governing body, announced that there will will be a delay in the third daily ACH transaction processing window. As reported by NACHA, this window will be delayed by six months. It will now go live on March 19th 2021, instead of September 18th 2020.
Federal Reserve (Fed) is the main cause of delay. NACHA states in its notice:
Fed will not be able to provide timely notification of its approval for Federal Reserve services necessary to enable the new window by the deadline provided for in the rule.NACHA Official Notice
Once the same day ACH transaction processing window will be live, financial institutions will be able to submit transactions until 4:45 pm Eastern Time. With more and more companies adopting ACH payments, same day ACH will help a lot of businesses resolve their payment issues.
More on this story here: Fed Delay Causes NACHA To Postpone a Third Processing Window for ACH Transactions for Six Months