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.

747 results

OrthoBanc Becomes a Nacha Certified Third-Party Sender

May 7, 2019
OrthoBanc, LLC, a leader in electronic payments for orthodontists and dentists, has become Nacha Certified, joining an elite group of ACH Third-Party Senders. By achieving Nacha Certified status, OrthoBanc has shown it is meeting the rigorous certification standards of this voluntary program established by Nacha, the steward of the ACH Network. “A vibrant ACH Network depends on quality Third-Party Senders adhering to sound practices,” said Nacha Chief Operating Officer Jane Larimer.
Press Release

Nacha Introduces the Nacha Corporate Experience

May 6, 2019
The Nacha Corporate Experience Combines Standards and Technology to Deliver a More Efficient Payments Experience for Today’s Businesses  ORLANDO, Fla., May 6, 2019 – Today, Nacha introduces the Nacha Corporate Experience, a new way of demonstrating how businesses can more effectively exchange payments and information.
Press Release

ACH Network Continues its Strong Growth in 2019

May 6, 2019
The ACH Network started 2019 with strong growth, as the number of payments in the first quarter increased 5.8% from a year earlier, and the daily average volume of payments increased 7.5%. The ACH Network set a record in February 2019 as volume exceeded 100 million ACH payments per day for the first time. ACH volume in the first quarter was 6 billion payments: 3.5 billion debits and 2.5 billion credits. Internet-initiated payments rose 10.3% to 1.6 billion.
Press Release

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

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.
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

Nacha Announces MicroBilt as a Preferred Partner for Bank Account Verification

May 4, 2019
MicroBilt is a new Nacha Preferred Partner for Bank Account Verification. Nacha Preferred Partners are a select group of innovators that contribute to Nacha’s strategic efforts in support of the payments ecosystem by removing friction, increasing ease, improving cash flow accessibility and efficiency, as well as supporting sound risk management and security for ACH payments.
Press Release

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.
Blog

How Being Nacha Certified Changed Bankers’ Minds

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.
Blog

CFPB Takes a Fresh Look at Remittance Rule

April 26, 2019
The Consumer Financial Protection Bureau has issued a Request for Information (RFI) regarding potential regulatory changes to the current remittance Rule. The RFI seeks information on two specific areas of the rule.
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