September 30, 2020
It doesn’t seem that long ago we sent out an email heralding the launch of the ACH Contact Registry. Now we’re at the point where the ACH Contact Registry has been open three months, with another very important milestone literally days away. October 30 is the deadline for financial institutions to register their contact information. That’s coming up fast, and while procrastination may be fine for some things (the weeds in your lawn will still be there next weekend), it’s not for this.
September 24, 2020
As technological innovation continues to reshape the payments industry, APIs are becoming a prominent feature of the landscape. But as APIs become a facet in the payments industry, so does the need for API standardization and common practices. Such a framework is necessary for innovation and growth to continue at a quick pace.
September 21, 2020
Some things in life seem destined to be complicated. Assembling furniture from Ikea? Complicated. Deciphering your cellphone bill? Complicated. The list goes on. One thing, however, that’s definitely not on that list is Direct Deposit. In fact, starting Direct Deposit is quite easy, whether it’s for payroll, benefits, expenses, refunds, or any other payments you receive. And once it’s set up, you’re done.
September 20, 2020
New Campaign Highlights the Success of Delivering EIP Payments As the coronavirus pandemic raged across the country, the U.S. government turned to Direct Deposit to deliver millions of economic impact payments (EIPs) to Americans. On April 15, exactly as the IRS instructed, 81 million Americans woke up to find their stimulus payments safely in their bank accounts thanks to Direct Deposit. Ultimately, the IRS would authorize 120 million payments via Direct Deposit.
September 18, 2020
When COVID-19 forced much of the world into lockdown it was unchartered territory for many, including Nacha Consulting, formerly Elevation Consulting. As it turns out, we’ve been busy in recent months, and noticed a common thread among our clients: they want anything tied to payments to be moved to all digital. While the push toward digital isn’t necessarily new, the accelerated pace necessitated by the pandemic is. And it’s brought us clients from across a wide spectrum:
September 18, 2020
This column first appeared on Morning Consult on September 18, 2020. As weeks turn to months and COVID-19 proves to be one of the most staggering challenges of our lifetime, Americans continue to persevere. On behalf of the entire ACH Network, Nacha is proud to play a role in that.
September 17, 2020
With paper check use declining and electronic payment methods on the rise, the ACH Network has grown tremendously in recent years. A recent PaymentsJournal podcast unpacked how this growth continued into 2020, even as the pandemic disrupted regular economic activity. In fact, the pandemic underscored just how reliable and valuable the ACH Network is to commercial and economic activity.
September 17, 2020
The Alliance’s Project Teams continue to play a crucial role in providing thought leadership on topics impacting the payments space and financial services HERNDON, Va., Sept. 17, 2020 – In its continued efforts to shape the future of the payments industry and to develop thought leadership relevant to financial services, Nacha’s Payments Innovation Alliance released two new resources specific to voice payments and cybersecurity.
September 16, 2020
As part of the ACH Network's efforts to educate more corporate end users on the Network and upcoming Rule changes, Nacha is offering two free webinars to corporate end-users.
September 15, 2020
HERNDON, Va., Sept. 15, 2020 – In honor of National APRP Recognition Day, which is commemorated annually on the third Tuesday of September, Nacha will recognize over 360 Accredited Payments Risk Professionals.
September 1, 2020
The Nacha Board Nominating Committee is pleased to announce that the Nacha Board of Directors has approved the initial slate of candidates, as presented by the Board Nominating Committee, for election to the seven Nacha director seats that are being filled through the 2020 Board election process. In accordance with the Nacha Bylaws, the initial slate of director candidates is issued to the membership for a 30-day review period.
August 31, 2020
Business Email Compromise is a major concern today, but it appears that the recent enhancement to Same Day ACH has not resulted in any increase in criminal activity, an informal Nacha survey found. The Same Day ACH per-payment dollar limit quadrupled to $100,000 on March 20, 2020. Ninety days after the change, Nacha surveyed its Direct Members to learn about their experiences. More than 80%—accounting for about 81.5% of all commercially originated ACH transactions—responded.