Nacha News

Nacha creates broadly adopted payment and financial messaging rules and standards through consensus-led governance, international collaboration, and innovative development practices. We continually advance the ubiquitous ACH Network and engage diverse stakeholders to accelerate a digital future of global financial services interoperability.

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Nacha’s Payments Innovation Alliance and the U.S. Faster Payments Council Launch the Faster Payments Playbook

The inaugural version of the online educational and decisioning platform is designed to help banks and credit unions develop a faster payments strategy

MIAMI, Nov. 5, 2019 – Today, Nacha and its Payments Innovation Alliance, jointly with the U.S. Faster Payments Council (FPC), launched the Faster Payments Playbook, an online educational and decisioning platform that will help banks and credit unions develop a faster payments strategy from concept to reality. 

ACH Network Volume Jumps 9.5% in Third Quarter

Same Day ACH Volume Surpasses 1 Million Payments Daily

HERNDON, Va., Oct. 15, 2019 – ACH Network payment volume and Same Day ACH payment volume both soared in the third quarter of 2019.  

The 6.2 billion ACH payments in the third quarter is an increase of 9.5% from a year earlier. There were 3.6 billion debit transactions and 2.6 billion credits. Those payments were valued at $14.1 trillion, which is nearly 11% more than the third quarter of 2018. 

Nacha Announces MACH1 as a Preferred Partner for ACH Enablement of Micro Businesses

HERNDON, Va., July 20, 2017 – Today, Nacha—The Electronic Payments Association® announced MACH1 as a Preferred Partner for ACH Enablement of Micro Businesses. Nacha Preferred Partners are a select group of providers and innovators that uniquely contribute to Nacha’s strategic efforts and the payments ecosystem by removing friction, increasing ease, accessibility and efficiency, or supporting sound risk management and security for ACH payments.
 
MACH1 was selected as a Preferred Partner based on its concentrated focus on providing products and services to the smallest of businesses to support and increase their use of electronic billing and payments.
 
“We are pleased to introduce MACH1 as our newest Preferred Partner,” said Janet O. Estep, president and CEO of Nacha. “The Preferred Partner Program allows us to support the needs of the industry by providing resources and guidance on solutions that facilitate use of electronic payments. The micro business sector often faces challenges with implementing electronic payments, sometimes due to technology integration issues, limited personnel, or competing priorities. Solutions like MACH1 more easily make electronic payments a reality for a sector that can benefit from the cost savings and efficiencies electronic payments can provide.”  
 
MACH1 by Profit Engine LLC is a mobile business app that provides for the ability to create and send bills and special offers to customers, and enable customers to make electronic payments. MACH1, which stands for “Mobile ACH for 1-person companies,” was created specifically for the smallest of small businesses that have typically relied on paper bills and payments.

“There are 35 million 1-person companies in the U.S.,” said George McKee, III, president and CEO, Profit Engine LLC. “MACH1 serves as a simple-to-use, yet robust solution developed exclusively for this often underserved audience. Through the Nacha Preferred Partner Program, we look forward to deepening our support among this growing sector as they look to streamline their payments practices with electronic payments.”

MACH1, as the Preferred Partner for ACH Enablement of Micro Businesses, joins a growing list of Nacha Preferred Partners working to better support the payments ecosystem.

Current Preferred Partners include:

To learn more about Nacha’s Preferred Partner Program, visit www.nacha.org/Preferred-Partner.
 
About MACH1 by Profit Engine
MACH1 is the only mobile solution that specifically targets the 35 million Americans who are self-employed as “solopreneurs” or as part-time “side-giggers,” the majority of whom are service providers. This award-winning solution enables these smallest-of-small business owners to successfully address the two biggest challenges they face: getting paid on time and getting more business by making it easy and economical for them to send bills, get paid and sell more. MACH1 is available for download via the Apple App Store and Google Play. For more information, visit mach1.com.
 
 

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