Payments News

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Companies

Nacha’s Payments Innovation Alliance Releases New Guide Explaining and Simplifying Voice Payments Processing Using the ACH Network

“Nacha’s Payments Innovation Alliance has created a new resource aimed at financial institutions, billers and payments processors. Voice Payments: Guide to Nacha’s Operating Rules identifies the most common conversational payments use cases, offers answers to frequently asked questions and assists in determining the Standard Entry Class (SEC) Codes for consumer bill payment use cases using voice-assisted devices […]
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Companies

The Acceleration of Faster ACH Payments Continues with Late Night ACH

“Following the increase of the Same Day ACH dollar limit to $1 million in March 2022, Nacha and the ACH Operators – the Federal Reserve and The Clearing House – have completed the latest phase in the acceleration of ACH payments with the implementation of “Late Night ACH.”  Implemented in mid-September 2022, the Federal Reserve […]
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Companies

Nacha Research Shows 97% of Workers Ages 22-34 Have a Bank Account and 88% of Them That Are W2 Workers Use Direct Deposit

“A study commissioned by Nacha found the sizable majority of the nation’s younger millennials are paid by Direct Deposit but revealed a stark contrast between W2 employees and gig workers. Overall, 97% of workers ages 22-34 have a bank or credit union account, with 83% receiving their pay by Direct Deposit. However, among W2 employees, […]
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Companies

Nacha Announces New Risk Management Framework for the Era of Credit-Push Fraud

“Nacha released a report on its latest Risk Management Framework today, providing a new strategy for industry participants in both the ACH Network as well as other payments systems to address new and persistent frauds that increasingly make use of credit-push payments. Common examples of fraud scenarios that target credit-push payments include vendor impersonation, business email compromise […]
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Companies

Nacha’s Phixius Service Has Now Passed 1 Million Transactions

“Nacha’s Phixius service, a trusted peer-to-peer network for efficient and safe exchange and verification of payment-related information, announced today that financial institutions and service providers in the Phixius network have utilized the service more than 1 million times so far this year to verify payment-related data. Phixius enables businesses to validate data such as routing […]
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Companies

Same Day ACH Growth Leads ACH Network to Second Quarter Gains

“The ACH Network moved 7.5 billion payments in the second quarter of 2022, led by growth in Same Day ACH and business-to-business (B2B) payments. This quarter was the first in which the Same Day ACH dollar limit was $1 million per payment, following the increase on March 18, 2022. There were 185 million Same Day ACH payments transferring $486 […]
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Companies

Nacha’s Payments Innovation Alliance Releases Guide Addressing Contractual Considerations of Voice Payments

Nacha’s Payments Innovation Alliance has created a legal and risk mitigation resource guide for financial institutions seeking to implement voice payments capabilities and applications (skills) through smart devices, such as the Amazon Echo and Google Nest. As part of the series of Alliance Executive Briefings addressing conversational payments, Voice Payments Contractual Considerations for Financial Institutions provides […]

On The Wires

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Companies

Nacha Announces Accelitas As a Preferred Partner for ACH Account Validation | Nacha

“Accelitas is now a Nacha Preferred Partner for ACH Account Validation. As a Preferred Partner, Accelitas is a part of a select group of innovators that Nacha recognizes for offering products and services that align with Nacha’s core strategies to advance the ACH Network…Accelitas helps companies reimagine financial access through the transformative power of data. […]
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Companies

Bill.com Earns Nacha Certified Status | Nacha

“Nacha has approved Nacha Certified status for Bill.com (NYSE: BILL), a leading cloud-based software platform which facilitates ACH payments.  Nacha Certified is a voluntary program for Third-Party Senders in the ACH Network, such as Bill.com. By meeting rigorous criteria, Nacha Certified companies demonstrate to their customers, peers and others that they meet Nacha’s standards for […]