April 29, 2019
There are banks that look at Third-Party Senders and—right or wrong—have their doubts. Wayne Gonzales gets it. In his experience, many Originating Depository Financial Institutions (ODFIs) “really aren’t interested in Third-Party Senders because of the additional compliance requirements. And they don’t know who the end customer is.” As Payment Data Systems’ senior vice president of risk management and compliance, Gonzales understood their point of view. He also set out to change it.
April 2, 2019
You hear a lot about how the gig economy is perfect for Same Day ACH. And it is. But Jessica Koenig also keeps in mind what she calls “the forgotten gig economy.” “Before there was Uber and Lyft marketplace apps you had consumer direct sales firms with independent sales reps and owner-operator truck drivers. There are plenty of other use cases with independent contractors or sole proprietors that need to get paid, but don’t fit into this app and marketplace phenomenon,” said Koenig, founder and chief product officer at KyckGlobal.
February 13, 2019
It’s a common phrase in the payments industry, but how often do you hear “risk management” used in reference to life? Maybe not often enough. At the recent Women in Payments USA 2019 Symposium I was honored to be part of a panel on “Navigating a Successful Career as a Woman in Payment/Fintech.” It quickly became clear that there’s nothing wrong with navigating into unchartered waters—if you’re willing to take risks. I have long believed that if you want to do something daring you have to be open to continuous learning, adaptable to change, and be willing to feel uncomfortable for a time.
February 7, 2019
At 36 pages, the criteria for becoming a Nacha Certified Third-Party Sender “is a little daunting when you first look at it.” That’s what Becky Wagner thought—though she’s quick to add that Nacha helped at every step of the way. Wagner is a senior compliance analyst at Paychex, which became Nacha Certified in April 2018.
January 30, 2019
After a day of filling cavities and fitting crowns, your dentist is entitled to be paid, and the easiest way is to make the entire claims process electronic.
January 24, 2019
Payments fraud “remains rare” in the U.S., with ACH payments having the lowest fraud rate by value, a new Federal Reserve study found. “Changes in U.S.
December 12, 2018
The healthcare industry has been quickly moving to electronic claim payments in recent years, but there are still significant “pain points” that need to be addressed, a senior Nacha official told a federal advisory panel. Since the Nacha “CCD+Addenda” was designated as the healthcare EFT standard in January 2012 its adoption has been “robust,” said Michael Herd, Nacha senior vice president, ACH Network Administration. “Measured by the number of payments, its use has more than doubled since 2014,” the first full year of use after the effective date, Herd said in written comments to the Nation
November 1, 2018
Sometimes you can find answers around the corner. Other times, you have to fly 20 hours. For Leticia Mentz, it was the latter. Mentz is with the Payments Association of South Africa, or PASA, where she looks after industry capacity building and communication. She recently came from Johannesburg to spend a week visiting Nacha headquarters, where staffers shared their expertise.
Five Challenges for Receiving Remittance Data through Electronic Payments, and the Fix Your Company Needs to Know About
October 26, 2018
Here at Nacha Elevation Consulting, we’re ready to help you navigate the challenges associated with receiving and applying remittance data from electronic payments. Our team can help you develop the strategies and processes you’ll need to fully capitalize on faster payments.
November 12, 2017
Amid the ongoing storm of industry activity, having all of the information at your fingertips to answer any questions you have about the payments system is nearly impossible. Organizations need a trusted party to assess their situation, answer questions within the context of their unique organization, and provide the best guidance regarding next steps and approach. That is where Elevation Consulting steps in – a trusted party focused entirely on providing reliable, expert consultative services to organizations that need help understanding how payments can best work for them. A startup look