New collaboration to benefit entire faster payments ecosystem
HERNDON, Virginia, Sept. 28, 2022 –Today, Nacha, the U.S. Faster Payments Council (FPC) and our nation’s Payments Associations announced a first-of-its-kind alliance to create the Accredited Faster Payments Professional (AFPP) program. This partnership demonstrates a cross-industry collaboration to benefit the entire payments community.
Earlier this year, Nacha launched the Faster Payments Professional (FPP) Certificate Program, and the first modules will be available in the fourth quarter. The AFPP builds on the FPP Certificate program to offer a rigorous and centralized accreditation program allowing payments professionals to demonstrate their expertise across all faster payment types, including Same Day ACH, instant payments and wire.
“This cooperation among Nacha, the FPC and the Payments Associations marks a new chapter of teamwork and will provide a single industrywide accreditation where payments professionals can demonstrate their faster payments proficiency,” said Nacha President and CEO Jane Larimer. “The program will ensure consumers and businesses can continue to trust that the professionals handling their payments have demonstrated an expertise in the multitude of payment methods they utilize.”
“We’re thrilled to be teaming up with Nacha and the Payments Associations on the new AFPP program, which aligns perfectly with our commitment to faster payments education,” said FPC Executive Director Reed Luhtanen. “The entire payments industry will greatly benefit from this collaboration that will create a robust program where diverse payments professionals can exhibit their faster payments knowledge and expertise.”
“The combined expertise of the Payments Associations, Nacha and the FPC demonstrates exciting leadership in the faster payments space,” said ePayResources CEO Laura Steele who heads the Center for Payments Steering Committee, which represents Payments Associations across the United States. “This commitment will ensure the AFPP program will be thorough and meet the rigorous education standards that payments professionals desire.”
Nacha will administer the AFPP exam using the same thorough methodologies and academic requirements as the current Accredited ACH Professional (AAP) and the Accredited Payments Risk Professional (APRP) exams. To further develop the AFPP program, Nacha is currently accepting nominations for the AFPP Oversight Panel, which will help create the AFPP program policies, the exam blueprint, the AFPP Body of Knowledge and the Operational Pilot Test.
The first module for the FFP Certificate Program will be offered later this year, and the first AFPP exam is scheduled to be provided in late 2024 or early 2025.
Nacha governs the thriving ACH Network, the payment system that drives safe, smart, and fast Direct Deposits and Direct Payments with the capability to reach all U.S. bank and credit union accounts. More than 29 billion ACH Network payments were made in 2021, valued at close to $73 trillion. Through problem-solving and consensus-building among diverse payment industry stakeholders, Nacha advances innovation and interoperability in the payments system. Nacha develops rules and standards, provides industry solutions, and delivers education, accreditation, and advisory services.
About the U.S. Faster Payments Council (FPC)
The FPC is an industry-led membership organization whose vision is a world-class payment system where Americans can safely and securely pay anyone, anywhere, at any time and with near-immediate funds availability. By design, the FPC encourages a diverse range of perspectives and is open to all stakeholders in the U.S. payment system. Guided by principles of fairness, inclusiveness, flexibility, and transparency, the FPC uses collaborative, problem-solving approaches to resolve the issues inhibiting broad faster payments adoption in this country. For more information, please visit FasterPaymentsCouncil.org.
About the Center for Payments
The Center for Payments™ is a joint program sponsored by 10 Payments Associations for the purpose of helping members and staff better prepare for the continued evolution of U.S. payment systems. The mission of the Center for Payments is to advance the payments industry as a united voice through market intelligence and thought leadership. This program further enhances the value of membership in the participating associations. Current participants include: ePayResources, EPCOR, Macha, NEACH, PaymentsFirst, SHAZAM, Southern Financial Exchange, The Clearing House Payments Authority, UMACHA, and Wespay. These associations represent over 10,000 financial institution members, businesses, and stakeholders with an interest in U.S. payment systems. Follow us on Twitter (@Center4Payments) and LinkedIn.
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