Implementation of Check 21, signed into U.S. law in 2003, authorizes electronic “substitute checks” and effectively marks the end of the return of cancelled paper checks.
president of eBay, Inc., keynotes at the PAYMENTS Conference.
NACHA adopts rules on third-party ACH processing, requiring that third parties agree to be bound by the NACHA Operating Rules even if the third party's client does not have any such agreement with the originating bank.
This enables NACHA to better enforce the rules, and also enables originating institutions to better manage the risks associated with originating ACH payments.
NACHA sponsors the first Institute of International Payments, sponsored by the Global Payments Forum (formerly the Cross-Border Council).
The Back Office Conversion (BOC) rule becomes effective, allowing businesses to convert eligible checks to ACH debits in their own back (or front) offices during back-office processing. (SEC Code approved in 2006.)
NACHA CEO Elliott McEntee announces he will step down in 2008. The Board undertakes an executive search.
In the six years that Steve Ellis chaired or co-chaired the NACHA Board of Directors, 2005 through 2010, he pushed the organization to move forward with the issues of the time. There was plenty to push
Janet O. Estep joins NACHA as its third president and CEO, bringing more than 25 years of experience at IBM and U.S. Bank.
NACHA joins the International Council of Payment Association Chief Executives (ICPACE), an annual gathering of executives of payment associations from
Australia, Canada, Ireland, New Zealand, South Africa, and the United Kingdom,
for the purpose of sharing insights and gaining perspectives regarding the issues facing national payment associations and their members.
Marking the increasing dominance of global and mobile payments, NACHA implements rules for International ACH Transactions (IAT, 2009, SEC Code approved in 2007) and expands the WEB SEC code to include Mobile ACH Payments (WEB, 2011).
NACHA introduces the PayItGreen Award, which honors individual or organizational leadership, vision, and innovation in the education and promotion of electronic payments, statements, and billing to reduce environmental impact.
“Simplified” NACHA Operating Rules becomes effective, the result of a massive three-year undertaking that reorganized and simplified the Rules book.
Rule allowing the use of the WEB transaction for mobile payments becomes effective.
Healthcare activity increases with the implementation of the Affordable Care Act. And there is major growth in the volume of person-to-person payments. Accordingly, NACHA implements rules for Healthcare Payments via ACH (2012) and approves P2P rules (2013).
NACHA finalizes a new Risk Management Strategy to address evolving payments risks and maintain quality on the ACH Network. It also publishes the revised Operating Rules & Guidelines. The simplification minimizes the legal language and makes the book more user-friendly and intuitive for users.
The U.S. Department of Health and Human Services recognizes CCD+ as the healthcare EFT standard.
NACHA launches ACH Network Messaging Campaign to help payments industry participants develop a common understanding of ACH payments, the NACHA Operating Rules, and the value of the ACH Network.
Council for Electronic Billing and Payment issues guidelines for the use of Quick Reference (QR) codes for consumer bill payment.NACHA announces Extensible Markup Language (XML) Remittance, Deposited Check Truncation (DCT), and IRS Refund opt-in programs.
These programs join the Electronic Billing Information Delivery Service (EBIDS) and Secure Vault Payments™ programs as innovative, rules-based solutions for the industry.
After input from all stakeholders, the NACHA Board votes to replace long-standing individual Councils with a more flexible, less “siloed” structure in mid-2014. The new Payments Innovation Alliance will facilitate broader response to fast-changing issues.
A survey by NACHA of 1,000 billers shows that nearly 50% of all consumer bill payments are made via ACH, while 42% are still paid by mail and the rest by credit and debit cards.
NACHA celebrates 40 years with special events at PAYMENTS 2014 in Orlando, Florida, a new website, and the launch of the Payments Innovation Alliance, a consolidated Council structure that engages stakeholders across consumer, corporate, and international payments and information areas of interest to more effectively support payments innovation.
A GREAT BELIEVER IN BALANCE, JAN ESTEP FOCUSES ON IMPROVING PRESENT-DAY PROCESSES WHILE SIMULTANEOUSLY NAVIGATING THE FUTURE