LAS VEGAS, May 20, 2008 — Nacha—The Electronic Payments Association awarded its 2008 Kevin O’Brien ACH Quality Award to TeleCheck Services, Inc., a First Data company, for its leadership and contributions to advancing the highest standards of efficiency and ACH Network quality. Mark Wallin, general manager of TeleCheck and First Data’s ACH services will accept the award today at Nacha's PAYMENTS 2008 conference in Las Vegas.
“TeleCheck has been a positive participant and active contributor to the advancement of the electronic payments industry, the ACH Network and Nacha for years,” said Elliott C. McEntee, chief executive officer of Nacha—The Electronic Payments Association. “TeleCheck consistently meets the highest standards of efficiency and Network quality. We are pleased to present them with this year’s award.”
TeleCheck’s sophisticated, state-of-the-art processes have drastically reduced the number of exceptions processed by receiving financial institutions, as well as decreased the number of returns and Notifications of Change (NOCs) flowing back through the ACH Network to originating financial institutions. Through their ACH eligibility decisioning programs and cutting-edge risk management and settlement processes, TeleCheck has improved financial institution protection against fraudulent returns and losses and enhanced customer security and satisfaction.
“TeleCheck is honored to be the recipient of Nacha’s 2008 Kevin O’Brien ACH Quality Award,” said Wallin. “We remain committed to the ACH Network and its participants and will continue to do all that we can to maintain the integrity of the ACH Network by taking a pro-active role in creating and developing processes that ensure the Network remains efficient, reliable and secure.”
The Kevin O'Brien ACH Quality Award, named after the late Kevin O'Brien, Nacha's Chairman in 1999-2000, is presented annually to an organization to recognize best practices in ACH participants' efforts to maintain and improve the quality of ACH services and the integrity and reliability of the ACH Network.
Nacha—The Electronic Payments Association
Nacha—The Electronic Payments Association is a not-for-profit association that oversees the Automated Clearing House (ACH) Network, one of the largest electronic payment networks in the world. More than 18 billion ACH payments were exchanged in 2007. Nacha is responsible for the administration, development, and enforcement of the Nacha Operating Rules and sound risk management practices for the ACH Network. Through its industry councils and forums, Nacha brings together hundreds of diverse payments system stakeholder organizations to enable the development of new network services and applications. Nacha represents more than 11,000 financial institutions through direct membership and 19 regional payments associations. Nacha and its members provide education, tools, and resources to increase the adoption of ACH payments to benefit businesses, consumers, and governments. To learn more, visit www.nacha.org and www.electronicpayments.org.
TeleCheck Services, Inc.
TeleCheck is a First Data company and a leading provider of paper and electronic check services. With over 40 years of experience, TeleCheck’s commitments to continuous innovation helps business safely and efficiently accept check payments at the point-of-sale. TeleCheck helps more than 350,000 retail, financial institutions, grocery and other industry outlets increase profitability, reduce risk and streamline operations.