It’s been one of Nacha’s main focuses in recent years: Encouraging healthcare professionals—especially dentists—to receive claim payments by electronic funds transfer, or EFT. There’s new evidence that these efforts are paying off.
A decade-long increase in medical and dental professionals receiving claim payments by EFT continued in 2023.
For technology firm Profituity, having the latest Nacha Rules is indispensable.
Nacha continually publishes new resources and updates existing tools to help ACH Network participants manage risk. It certainly kept up the pace in 2023.
It’s one of the most important services Nacha provides to financial institutions. To better assist its users a fresh new look and other enhancements are coming soon to the Risk Management Portal.
Risk management imposes unavoidable expense. At one extreme, an organization might choose to forego all efforts at reducing risk and accept whatever losses come its way. At the other extreme, it might spare no expense to mitigate all possible risks regardless of their likelihood.
Innovation is vital to any industry, and to encourage forward thinkers in payments, Nacha has created the 15 Under 40 award.
Growing cybersecurity threats and regulatory concerns have amplified the need for increased operational resilience around all critical banking and payments functions.
It’s an issue vexing financial institutions big and small—while keeping Nacha’s National System of Fines busy handling disputes: proof of authorization.
It’s been more than three years now—July 2020, to be exact—since the ACH Contact Registry went live. And as recently as August of last year, Nacha let everyone know it’s running spot checks on the data within the registry.
Those checks are about to be ramped up.
You wouldn’t take a cross-country drive using an old paper map. So, why would you try to follow the Nacha Rules using an outdated guide?
We’re all abuzz with excitement -- there’s a new way to keep up with new developments in the payments industry.
A common myth that Nacha frequently addresses regards the settlement speed of ACH payments. If you read the industry literature, you’ll likely see references such as 2-3 days, or, my least favorite, 3-5 days.
No matter the industry, issues are going to come up between one party and another. ACH is no exception, and when financial institutions can’t work things out among themselves, Nacha’s System of Fines is available to adjudicate any alleged Nacha Rules violations.
For more than a decade, Nacha has actively encouraged healthcare providers to move away from checks and receive claim payments by ACH.
Summertime and the living is busy. At least for Nacha’s Industry Engagement team, which year-round promotes the benefits of ACH payments for specific industry use cases.
There are some certainties in life, and Jordan Bennett knows this is one of them: “The fraudsters are going to follow the money. They always do.”
If an Originator realizes it has fallen victim to credit-push fraud, the only obvious fact may be that a payment didn’t reach the intended Receiver. Beyond that, a flurry of questions can create uncertainty at a time that calls for decisive action.
You don’t have to look too hard to find evidence that check fraud is a huge problem that’s only getting worse:
There’s a lot going on in the payments industry, making it important to get out in front of lawmakers and their staffs to help bring them up to speed. That’s why Nacha holds its annual Hill Day to help educate Congress on the importance of ACH payments to their constituents.