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October 2, 2020
Nacha has approved eight new amendments to the Nacha Operating Rules governing the use of ACH payments. Many of the changes reflect a long-term strategy to modernize the ACH system, both through infrastructure improvements such as Same Day ACH; and making ACH payments easier to use for the country’…
ACH, ACH Network, Nacha Operating Rules, Risk & Compliance, Risk Management
September 1, 2020
By Richard Oliver & George Warfel Jr.
Written by experienced experts from both the private and the government sector, The Story of Payments: How The Industrialization of Trust Created the Modern Payments System tells the story of how payments – between people, merchants, employers and…
ACH, Other Payments
June 2, 2020
Part 3 of 4 (Part 1, Part 2, Part 4)
Earlier this year, the Nacha Risk Management Advisory Group (RMAG) met to expand upon a previous RMAG initiative on the topic of risk and exposure management. This is the third in a series of articles in which RMAG provides sound business practices…
ACH, ACH Network, Risk & Compliance, Risk Management
May 4, 2020
Over the years, Nacha has updated the Nacha Operating Rules to reflect the increasing number of cross-border transfers. We’ve incorporated information on all parties to the transaction in the international payment format, required foreign payments to be classified with the IAT designation, and…
International
January 21, 2020
HERNDON, Va., Jan. 22, 2020 – Nacha is partnering with seven members of The Center for Payments to expand the reach of Nacha Certified, a voluntary certification program for Third-Party Senders that enhances the quality of the ACH Network.
Under a new cooperative agreement, seven Center…
Risk & Compliance, Risk Management
September 17, 2019
Checks haven’t quite gone the way of 8-track tapes, but there’s another sign they could be heading in that direction.
A new study by the Association for Financial Professionals (AFP) finds that for the first time, fewer than half of business-to-business (B2B) payments are being made by…
ACH, Other Payments
April 23, 2019
As electronic payments have grown, so has their use across national borders. To ensure that cross-border payments are both efficient and secure, Nacha worked with the Office of Foreign Assets Control (OFAC) to develop a new ACH format that includes information on all parties to…
International
March 7, 2019
Nacha's Risk Management Advisory Group (RMAG) recently participated in a simulation exercise of a service provider business interruption. The goal was to gather input and develop a set of sound practices for ACH Network participants when faced with this type of business interruption. …
ACH Network, Risk & Compliance, Risk Management
February 19, 2019
You know how annoying it is when you go to another country and discover you can’t plug anything in because the electric outlets are different? The same thing happens today with some global payments, and the problem will intensify unless there’s international collaboration and greater…
International, Standards & Regulations
February 7, 2019
The Business Payments Coalition and Accredited Standards Committee X9 are creating a new reference directory listing U.S. banks and service providers that offer payment and cash management products and/or implementation services related to ISO 20022. The purpose of the ISO 20022 Capabilities…
Innovation, International, Standards & Regulations