NACHA Statement on Federal Reserve’s Strategies for Improving the U.S. Payment System

Posted January 26, 2015

NACHA applauds the Federal Reserve for its leadership role in developing Strategies for Improving the U.S. Payment System and shares much of its vision for the future of payments. In fact, the Federal Reserve’s plan complements NACHA’s 2012 ACH Blueprint, which is designed to serve as a guidepost for the evolution of the ACH Network over the next decade.

NACHA’s Board of Directors Elects New Officers, Adds New Members

Posted January 14, 2015

NACHA announced the election of new officers and the addition of five new and two re-elected members to its Board of Directors. The Board represents a diverse set of depository financial institutions of all sizes and types that support and warrant the payments on the ACH Network.

Innovation to Lead at the 2015 NACHA Payments System Awards Luncheon at PAYMENTS 2015

Posted January 13, 2015

NACHA — The Electronic Payments Association today announced a theme of innovation for its 2015 NACHA Payments System Awards Luncheon to be held during the PAYMENTS 2015 conference on April 19-22 in New Orleans, La. Howard Putnam, former CEO of Southwest Airlines, will keynote the awards luncheon with a talk on how to create a culture of innovation.

NACHA Releases Q4 2014 Government Relations Digest

Posted January 8, 2015

NACHA’s quarterly Government Relations Digest reflects current payments system policy issues of potential impact to the ACH Network and other retail payment channels. The following are some highlights most relevant to NACHA Members.

ACH Operations Bulletin #2-2014: ACH Transactions Involving Third-Party Senders and Other Payment Intermediaries

Posted December 30, 2014

In most ACH transactions, the roles of the various parties to the transaction (e.g., Originator or Receiver) are well understood. When a transaction involves a Third-Party Sender or other payment intermediary, however, roles can become confused. Although the proliferation of new payment models makes it impossible to catalogue all the different fact patterns that may arise, this ACH Operations Bulletin is intended to provide some representative examples that should help participants and observers properly categorize the roles of the parties in payment scenarios involving different types of third party payment intermediaries, and understand how ACH transactions should be identified for consumers. Note: This ACH Operations Bulletin is for information purposes only, and is intended to provide general guidance regarding certain principles regarding the interpretation of the NACHA Operating Rules. All applications of the NACHA Operating Rules are subject to the facts and circumstances of the specific case. This ACH Operations Bulletin is not intended to provide legal advice. Readers should obtain their own legal advice regarding their obligations under the NACHA Operating Rules or applicable legal requirements. 

NACHA Releases Request for Comment on Same Day ACH

Posted December 9, 2014

NACHA today released a Request for Comment (RFC) on Same Day ACH. The RFC outlines a proposal for new, ubiquitous clearing and settlement options to move virtually any ACH payment faster, expanding upon traditional ACH functionality.

Merchant Financial Cyber Partnership Announces Next Steps for Securing the Payments System

Posted December 4, 2014

The Merchant Financial Cyber Partnership announced next steps for the two industries to continue working together to strengthen the security of the payments system. Launched in February, the Partnership has succeeded in its goal to work collaboratively across the payments system to enhance security in order to protect customers and their data from cyber threats.