NACHA’s Payments Innovation Alliance Releases White Paper: “Real Time in Real Life”

Posted September 28, 2015

Paper explores the realities of implementing a real-time payments system


HERNDON, Va., Sept. 30, 2015 – NACHA—The Electronic Payments Association® announced today that its Payments Innovation Alliance released a white paper, “Real Time in Real Life: The Impact of a Real-Time Payments System on Its Users.”
Even as real-time payments systems are proliferating around the globe, real time can mean many different things with vastly different implications to users of the system. The paper provides clarity on what a real-time payment is by exploring what real time means, outlining the challenges to implementing real time, and identifying major use cases and user impact.
“Real time has the potential to drastically change the way consumers and businesses make payments and interact with their financial institutions,” said George Throckmorton, managing director, Advanced Payments Solutions at NACHA.
“This paper seeks to bring the concept of real time to real life by informing the industry globally on the realities of deploying a real-time payment system and the benefits and opportunities a real-time system can provide to various users,” Throckmorton said.
The paper was released as part of the Payments Innovation Alliance’s Members Meeting, which is going on now through Oct. 1 in Miami. The Members Meeting features discussion of a variety of payments-related topics, including sessions dedicated to real-time and faster payments initiatives such as Same Day ACH. Same Day ACH, a new amendment to the NACHA Operating Rules that will move payments faster on the ACH Network, can serve as complementary functionality to any real-time payments system that is implemented in the U.S. 
Launched last year, The Alliance is a membership group of more than 200 member organizations from throughout the payments ecosystem and around the globe that encourages industry dialogue and collaboration to help advance domestic and global payments.  
To download a copy of the “Real Time in Real Life” white paper, click here.  
About the Payments Innovation Alliance
The Payments Innovation Alliance brings together diverse, global stakeholders to support payments innovation, collaboration, and results through discussion, debate, education, networking, and special projects that support the ACH Network and the payments industry worldwide. By organizing content and focus across all payment areas, including emerging payment technologies, electronic billing and presentment, mobile, payment security/risk, check conversion and global payments, the Alliance seeks to grow and advance payments and payments technology to better meet and serve the needs of the evolving industry. For more information and to learn how to join, visit
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