May 01, 2022

Nacha's Payments Innovation Alliance Releases Guide Addressing Contractual Considerations of Voice Payments

Payments Innovation Alliance logo with Background

NASHVILLE, Tenn., MAY 3, 2022 – Nacha's Payments Innovation Alliance has created a legal and risk mitigation resource guide for financial institutions seeking to implement voice payments capabilities and applications (skills) through smart devices, such as the Amazon Echo and Google Nest.

As part of the series of Alliance Executive Briefings addressing conversational payments, Voice Payments Contractual Considerations for Financial Institutions provides background on the importance of Terms and Conditions (T&Cs) when offering voice payments services and how terms may be modified to best fit their skill. This guide also offers an overview of use cases, best practices for risk mitigation and a glossary of terms. Written by the Alliance's Conversational Payments and Cybersecurity Response Project Teams, it complements their other titles including Voice Payments: An Introduction and Overview; A Deep Dive into the Technology Behind Voice Payments; and Unwrapping Smart Speakers.

"Voice Payments: Contractual Considerations for Financial Institutions presents important guidance to banks and credit unions seeking to offer conversational payment options," said Jennifer West, AAP, Senior Director, Payments Innovation Alliance, Nacha. "This guide includes sample language for legal counsel and compliance staff to consider as they customize the T&Cs to fit their financial institution's specific needs."

Nacha's Payments Innovation Alliance brings together diverse global stakeholders — including financial institutions, fintechs, solution providers, corporations, law firms and others —to transform the payments industry by cooperatively developing solutions, staying ahead of trends and unlocking the potential of the ACH network. To download a copy of Alliance Executive Briefings, visit

About Nacha
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.