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.

26 results

Nacha’s API Standardization: A Necessary Undertaking

July 23, 2019
Nacha is leading the industry effort on API standardization. To accomplish this objective, Nacha supports Afinis Interoperability Standards, a membership-based governance organization that brings together diverse collaborators to develop implementable, interoperable, and portable financial services standards.
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Why it Pays for Nonprofits to Encourage ACH/EFT Donations

July 18, 2019
It’s a nonprofit no-brainer: Encourage recurring donations through ACH/EFT.  “Those organizations that have been doing this, that started with EFT early on, they get it,” said Erica Waasdorp, founder and president of the fundraising consulting firm A Direct Solution, and author of “Monthly Giving. The Sleeping Giant.” She works with organizations of all sizes, but focuses on small donors—generally $250 or less—with an emphasis on monthly giving.  At a recent fundraising conference, Waasdorp’s co-presenter told her that 18% of her organization’s sustainers give by direct debit.
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Extended Hours for Same Day ACH: The Time Has Come

July 5, 2019
Triple digit growth in a single year shows you’re on to something. Such is the case with Same Day ACH. Since its 2016 debut, businesses small and large, financial institutions from Main Street to Wall Street, and consumers have embraced the benefits of Same Day ACH. Volume jumped 137% from 2017 to 2018, with nearly 178 million transactions last year.  But it’s still a work in progress. In fact, we have an enhancement coming in September, making funds available sooner in the day for many ACH credits.
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Meet the Winner of the Nacha PRADO Scholarship

June 25, 2019
With an eclectic format featuring jazz, smooth jazz, blues and easy rhythm and blues, WSIE-FM holds a special place in the hearts of its listeners. Better known around Metro St. Louis as “88.7 The Sound,” it faces all of the usual challenges of public radio—and more. “Our radio station recently lost all of its government funding” from the state of Illinois, said Stephanie Lewis, WSIE’s account executive. “We are in the process of becoming self-sustaining.” That doesn’t leave money for things like attending an industry conference.
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Report Finds Sharp Rise in Business Email Compromise

June 11, 2019
ORLANDO, Fla.—Think you’ve got a handle on Business Email Compromise (BEC)? Maybe think again. “BEC fraudsters are innovative and devise ways that can ‘morph’ their fraud attempts into new and unexpected forms, thus continuing to scam their targets,” according to the 2019 “Payments Fraud and Control Survey Report” from the Association for Financial Professionals (AFP).  The report was the focus of a session at Smarter. Faster.
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Alexa Makes Life Easy for Many, But Raises Questions for ACH

May 20, 2019
ORLANDO, Fla.—Alexa, pay the electric bill. That’s an increasingly common request—along with the water, gas, and who knows how many other bills. As convenient as it is for consumers, it’s raising new questions for ACH Network participants.
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Why ACH Has a Place in the Future of Payments

May 20, 2019
ORLANDO, Fla.—Jane Larimer never tires of telling people “the ACH Network is thriving” and for good reason: “Because it is.” Even as new payment methods emerge, Larimer believes ACH will have a place at the table. “There’s room and opportunity for all payments,” Larimer, Nacha’s chief operating officer, told a Smarter. Faster. Payments 2019 session on the future of the ACH Network. 
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‘Fintechs Are from Mars, Financial Institutions Are from Venus’

May 20, 2019
ORLANDO, Fla.—JP Nicols believes it’s time to “get serious about innovation”—although his definition of innovation might differ from financial institutions’. “It’s not just ‘innovation theater,’” said Nicols, managing director of FinTech Forge. Nor is it “the fintech petting zoo.”
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ACH Will Remain Part of the ‘Backbone of U.S. Payment System’

May 15, 2019
ORLANDO, Fla.—ACH is, and will remain, a vital part of the nation’s payment system, a senior Federal Reserve official told a Nacha conference. “We still expect the ACH Network to continue to be part of the backbone of the U.S. payment system. At the Federal Reserve we are still committed to that,” said Nell Campbell-Drake, vice president of the Federal Reserve Bank of Atlanta.
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