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Afinis Interoperability Standards membership organization, which focuses on the rapid delivery of APIs and other financial services standards across the U.S. and globally, welcomes two new member organizations: Credit Union Financial Exchange and Moov . …
Supplementing Fraud Detection Standards for WEB Debits As the ACH Network grows, part of that growth can be attributed to an increase in consumer payments made via the internet and mobile devices. With that growth comes a need to ensure account …
Afinis Interoperability Standards Releases New APIs for Account Ownership Validation and Payment Initiation
Contact: Media Relations Nacha’s Afinis Interoperability Standards announced today it has released two APIs to assist financial institutions’ business clients with account ownership validation and with payment initiation. Afinis is a membership-based …
Afinis Interoperability Standards released two APIs to assist financial institutions’ business clients with account ownership validation and with payment initiation. Afinis is a membership-based organization that focuses on the rapid delivery of APIs and …
Changes are coming to the way ACH Network participants use Micro-Entries following approval of a new Nacha Rule —one you should be looking to adopt even before it takes effect. “We know Micro-Entries happen in the ACH Network and they’re a good tool for …
With one new Nacha Rule just taking effect last month and two others right behind in September, Nacha has a wealth of new and refreshed materials to help you along. On June 30, Phase Two of Supplementing Data Security Requirements took effect, expanding …
A customer overpays by 22 cents, and you refund it by ACH. Is that a Micro-Entry? How about if a customer pays a 93-cent bill by ACH. Is that a Micro-Entry? Are these transactions subject to the new Nacha Micro-Entry Rule taking effect Sept. 16? “Not …
… Each depository financial institution that transmits or receives ACH entries is required to pay Nacha an Annual Fee and a Per-Entry Fee for costs associated with the administration of the ACH Network. The fee amounts are set to recover costs of the ACH …
Nacha believes that risk management is central to maintaining a high-quality ACH Network that relies on the trust of each participant. Financial Institutions’ obligations include conducting a risk assessment and implementing a risk management program …