Tool Helps FIs Understand Roll as Intermediary
When a transaction involves the use of a payment intermediary (e.g., a Third-Party Service Provider that performs some aspect of payment processing on behalf of a client), those ACH roles may not always be easily identifiable. That’s why Nacha developed and recently updated the Third-Party Sender Identification Tool. It helps financial institutions and their ACH customers understand their roles when an intermediary is involved in some aspect of ACH payment processing.
As a Third-Party Sender, there is an opportunity to become Nacha Certified, which demonstrates that a company has met standards that include a solid risk and compliance program, stability, sound governance, and has strong core ACH practices in place.