What innovation has led to the creation of 'iACH' payments?

The innovation that has led to the creation of 'iACH' payments is the use of innovative technology to enhance connectivity. This concept centers on improving the capabilities of existing Automated Clearing House (ACH) frameworks by integrating advanced technology solutions, such as APIs and blockchain, which facilitate seamless cross-border transactions.

The iACH system exemplifies how technology can streamline processes, improve efficiency, and enhance the overall user experience in the payments landscape. By enabling better connectivity, it fosters faster transaction times and enhances the security of payments, making it much more versatile for users operating in multiple jurisdictions. This approach allows for a greater range of transactions while accommodating the unique regulations and systems present in different countries, thus catering to the global nature of modern commerce.

While options focusing on global ACH network connections, automated cross-border payment processing, or unified currencies are important in their own right, they do not capture the essence of the technological advancements that specifically drive innovations like iACH payments.