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.

33 results

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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Is Your Company Due for a Digital Transformation?

May 15, 2019
ORLANDO, Fla.—“What would your company look like if you created it today?” Tom Goodwin asked that question to make a point.  “It’s much easier to build something from scratch than it is to destroy and change what you have,” said Goodwin, head of innovation at Zenith Media and author of “Digital Darwinism.” But in his keynote at Smarter. Faster. Payments 2019, he made clear that business as usual won’t cut it.
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The Corporate Experience: Making B2B as Easy as ABC

May 6, 2019
First our salary is direct deposited, then we pull out our smartphone to pay bills. Who still writes a check? But while electronic payments have largely taken over among consumers, those pieces of paper still hold their own when it comes to business-to-business (B2B) payments. Strange as that might seem in 2019 there are valid reasons. B2B involves a lot more than “give me your bank account and routing numbers and we’re set.” Company A has this way of billing and receiving payments while Company B uses another system. And don’t even ask about Company C.
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For OrthoBanc, Quality and Integrity Mean Being Nacha Certified

May 6, 2019
Braces aren’t inexpensive, therefore many orthodontists offer payment plans. But they’re in the smile business, not the payments industry. That’s why they turn to OrthoBanc. OrthoBanc doesn’t offer financing, but rather manages payment plans offered by orthodontists and dentists, as well as veterinarians and other medical practices.
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Call it EFT or ACH or EDI – But They’re Different and It Matters

April 29, 2019
What is the difference between EFT, ACH and EDI?  We here at Nacha often get asked this question from business financial teams - even from seasoned financial pros. The quick answer is that all ACH (Automated Clearing House) payments are EFTs (Electronic Funds Transfers), but not all EFT payments are ACH.  And EDI (Electronic Data Interchange) is not a payment. The longer explanation is that people are confused because different professions have different names for the same thing.
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