Links in “NACHA”

NACHA is hosting a webinar next week which will focus on the new Same Day ACH rule. The event will help viewers to understand how Same Day ACH affects them, and how it will improve prenotes, reversals, returns, and NOC processes. The webinar takes place on Wednesday, March 2. [2/26/16]

NACHA will host a webinar on January 27 to discuss the Same Day ACH rule, which goes into effect on September 23, and other proposals regarding faster payments. [1/26/16]

The Electronic Payments Association has launched the NACHA Challenge. This team-based competition aims to foster new ways of improving the ACH end-user experience, and is open to innovators from any entity, including corporates, academic institutions, financial institutions, and nonprofits. Teams competing could win a $15,000 Judges’ Choice or a $10,000 Audience Choice prize. All submissions must be received by NACHA by March 25. [1/20/16]

NACHA’s ACH Network Risk and Enforcement Rule went into effect on Friday, September 18^th. The rule is meant to decrease the amount of ACH transaction exceptions and returns by establishing a lower return threshold and inquiry process. [9/21/15]

NACHA has launched a mobile wallet initiative with the goal of supporting retailer and bank branded mobile wallets for electronic payment. This effort will be led by The Alliance Mobile Wallet Team, who will be speaking during the Members Meeting later this month. [9/10/15]

NACHA has partnered with PYMNTS.com to present a one-day symposium in October focusing on faster payments and innovation. [8/11/15]

NACHA’s 2016 PAYMENTS conference has been announced and will be held in April 2016. This conference centers around innovation, challenges, and opportunities within the payment industry. [7/13/15]

NACHA approved a same-day ACH rule in May and the Federal Reserve has proposed to change its current optional Fed ACH Same Day Service to a mandatory participation in order to conform with the new NACHA ACH rule. However, concerns are growing over the effect and costs of implementation, particularly for smaller credit unions. [7/2/15]

Currently, most ACH transactions are settled the next business day. Under a new rule just adopted by NACHA, same-day processing for certain types of transactions will be phased in for all RDFIs. Same-day processing will remain optional for ODFIs. [6/1/15]

Slow and steady doesn’t win the race this time. NACHA has approved same day ACH with the goal of increasing the speed and ease of ACH for consumers and modernizing the payment system. [5/20/15]