NACHA: New Digital Realities

ACH Volume:  5.21 billion payments, valued at $15.3 trillion  7.53 billion payments, valued at $20.7 trillion

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Y2K Fears

Fears about system-wide computer crashes run rampant in the months leading to the year 2000. NACHA joins other industry organizations in preparing for Y2K and distributing readiness materials, one of which assures the public that “the Federal Reserve has plans to ensure there will be sufficient cash available for consumers.”

New Memberships

NACHA’s Board of Directors approves adoption of a representative Board and opens direct membership to additional financial institutions.

Implementing rules

NACHA implements rules regarding Point-of-Purchase Entries (POP) transactions (SEC Code approved in 1999) and Re-presented Check Entries (RCK) transactions (SEC Code approved in 1998).

NACHA’s Vision 2000 rolls out

NACHA’s Vision 2000 rolls out. A far-reaching strategy initiative three years in the making, it works in tandem with ideas presented in the Federal Reserve Bank’s Rivlin Study to speed the transition from a paper-based system to an electronic system. (The study was named for Alice Rivlin, then Vice Chair of the Fed.)

Products and services launched as a part of Vision 2000 help to stimulate record five-year growth for the ACH Network.
ACH Vision 2000 Special Report

growing dominance of digital transactions

Recognizing the growing dominance of digital transactions, NACHA approves e-sign for ACH debits, opens an application for paper check conversion, and makes the Rules available online.

Electronic Check conference 2002

Alan Greenspan speaks at PAYMENTS

Federal Reserve Bank Chairman Alan Greenspan speaks at PAYMENTS, highlighting the conference’s ability to attract cutting-edge keynoters.

Alan Greenspan

Kevin O’Brien ACH Quality Award

NACHA presents its first Kevin O’Brien ACH Quality Award, named in honor of the late Kevin O’Brien, NACHA’s 1999-2000 Board Chair. Winners are FFCA, WellPoint, ADP, and Mellon.

Kevin O’Brien ACH Quality Award

Implementing rules

NACHA implements rules regarding ACH payments via phone, Telephone-Initiated (TEL) Entries, and ACH payments initiated over the Internet, Internet-Initiated (WEB) Entries. (Both SEC Codes were approved in 2000.)

Rules Regarding Accounts Receivable

NACHA implements rule regarding Accounts Receivable (ARC) Entries. (SEC Code approved in 2001.)

Promoting Business-to-Business

NACHA creates the Corporate Payments Council to promote business-to-business electronic payments.

Department of Health and Human Services
U.S. Department of Health and Human Services presents an award to NACHA for electronic child support payment facilitation.


As the global economy becomes reality, NACHA adopts initial rules for international ACH payments.

ACH formats and rules for cross-border payments will undergo continuous review by the U.S. Office of Foreign Assets Control (OFAC) and the Financial Action Task Force (FATF), eventually resulting in the 2009 implementation of International ACH Transaction (IAT) rules.

Promoting Electronic Payments and Direct Deposit

Ongoing promotional efforts to boost the use of electronic payments and Direct Deposit include roadside billboards, TV ads, and bill stuffers.

Department of Health and Human Services


When Scott Lang joined NACHA, he plunged into council management — a baptism by fire…

Scott Lang, AAP

Continue Exploring the Early 2000s

Choose another Era
Early Microsoft Tablet
2000: Microsoft debuts a pen-based, touch-capable Tablet PC. The device is ahead of its time and does not find an audience.
Toyota Prius
2000: Toyota introduces the U.S. to the Prius, grows market for hybrid cars.
2002: The Euro replaces centuries-old national currencies in 12 European Union countries.
intel Pentium M
2003: Intel releases the Pentium M microprocessor.