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.

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Nacha’s Payments Innovation Alliance and the U.S. Faster Payments Council Launch the Faster Payments Playbook

The inaugural version of the online educational and decisioning platform is designed to help banks and credit unions develop a faster payments strategy

MIAMI, Nov. 5, 2019 – Today, Nacha and its Payments Innovation Alliance, jointly with the U.S. Faster Payments Council (FPC), launched the Faster Payments Playbook, an online educational and decisioning platform that will help banks and credit unions develop a faster payments strategy from concept to reality. 

ACH Network Volume Jumps 9.5% in Third Quarter

Same Day ACH Volume Surpasses 1 Million Payments Daily

HERNDON, Va., Oct. 15, 2019 – ACH Network payment volume and Same Day ACH payment volume both soared in the third quarter of 2019.  

The 6.2 billion ACH payments in the third quarter is an increase of 9.5% from a year earlier. There were 3.6 billion debit transactions and 2.6 billion credits. Those payments were valued at $14.1 trillion, which is nearly 11% more than the third quarter of 2018. 

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What Are APIs and How Are They Changing Banking?

August 13, 2019
Published in PaymentsJournal on August 13, 2019 If you keep up with the payments industry, you’re bound to have heard about APIs. It seems like every day brings fresh articles covering the newest APIs in glowing terms. From improving digital banking to facilitating Same Day ACH payments, APIs are having a major impact on payments and the wider financial industry. But what are APIs and how exactly are they changing the payment ecosystem? APIs 101: a crash course on communication API stands for application programming interface.
Blog

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.
Blog

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.
Blog

Afinis Interoperability Standards Names Inaugural Board of Directors and Officers

May 4, 2019
Afinis Interoperability Standards, a new member-led organization supported by NACHA, announced its inaugural Board of Directors and Board Officers. The Board of 10 members and three officers will guide the strategic direction of the organization, which is advancing financial industry standards, including API standardization and other financial services standards, across the U.S. and globally. 
Press Release

Afinis Interoperability Standards Names its Interim Governing Board

December 5, 2018
Interim Board, consisting of 11 organizations representative of the diverse financial services industry, will guide strategic direction of the new member-led organization HERNDON, Va., Dec. 5, 2018 – Afinis Interoperability Standards announced that it has named its Interim Governing Board.
Article

Sullivan Talks Faster Payments, APIs & B2B Directories on Capitol Hill

September 20, 2018
Bill Sullivan, Nacha’s Head of Government & Industry Relations was back on Capitol Hill meeting with House and Senate staff with an eye towards the November mid-term elections. Meetings included a myriad of topics including, but not limited to, the API work of ASIG, the Alliance work on faster payments and the proof of concept work on B2B directories. November’s Congressional elections may bring changes to Senate Banking and House Financial Services Committee leadership.
Article

Business Payments Directory Association to Partner with Discover Financial Services to Provide Blockchain Platform for its B2B Directory

August 1, 2018
Directory will leverage open source technology, blockchain and standardized APIs supported by NACHA’s API Standardization Industry Group to facilitate B2B electronic payments ROSEVILLE, Minn., Aug. 1, 2018 – The Business Payments Directory Association (BPDA) today announced that it will be partnering with Discover Financial Services (NYSE:DFS) to develop a proof of concept platform for its B2B Directory built on blockchain technology.
Press Release

RESTful Implementation of IFX Demonstration Design Review Based on IFX Specification Version 2.4 July 2018

July 4, 2018
The report, RESTful Implementation of IFX Demonstration Design Review, concluded that: The IFX Standard and the IFX Message Framework are readily adaptable to REST design concepts. This paper describes many of the design decisions we have made and illustrates how to map the IFX Standard messages (methods) to RESTful concepts and HTTP verbs. IFX Objects can be implemented directly as JSON resources, but more work needs to be done for the purposes of APIs to define resources that are not as deeply nested as many of the structures currently defined in the specification. Read the Report
Article