I’m in Baltimore attending the NACHA Council mega-meeting. This morning Aneesh Chopra, the Federal Government’s CTO (officially, director of technology for the President’s Office of Science and Technology) was the Keynote Speaker. He took a few minutes to warm up, but by the end he had the whole room of bankers, financial technology providers, regional […]
The new International ACH format, IAT, goes into effect today. IAT is the single biggest change to the ACH network in decades. It affects all International ACH transactions that flow through the US ACH network, regardless of currency or country. The NACHA rule change both redefines what an International transaction is and creates a new […]
In just 30 days, on September 18th, the new International ACH format – IAT – and accompanying NACHA rule changes go into effect. This is the most significant change to the ACH network in decades, affecting corporate payment initiators, financial institutions of all sizes, financial software companies, and payment service providers. The new rules have […]
Editor’s Note: This is one of a pair of ACH commentaries that we are publishing today on Payments Views. Be sure to also read Carol Coye Benson’s post “ACH: Big Questions for the Biggest Network” based on her recent interview with NACHA CEO Jan Estep. I recently presented to TAWPI’s Payments Capture and Clearing (PCC) […]
Editor’s Note: This is one of a pair of ACH commentaries that we are publishing today on Payments Views. Be sure to also read Erin McCune’s post “The Future of ACH.” There is a tremendous focus on the ACH network right now within the payments industry – and with good reason. The ACH is the […]
Erin tweets from NACHA’s Payments 2009 in Orlando that attendance this year is about 2,000 – down about 1,000 from last year’s turnout. She’s also wondering what happened to the Wi-Fi in the Payments 2009 conference venue – it’s missing in action! (BYON is my motto – Bring Your Own Network!) Follow more of Erin’s […]
My colleague Bryan Derman and I are in Orlando for NACHA’s Payments 2009 conference. Just heading off to bed, but thought I’d do a quick post to share some B2B stats that were just released: Business-to-Business (B2B) Payments/Financial EDI More than 1 billion EDI-formatted addenda records were transmitted across the ACH Network in 2008, a […]
It’s springtime, and annual payments statistics are starting to bloom. A good time, perhaps, to consider the state of business-to-business (B2B) payments. NACHA recently released figures showing that ACH CTX transactions grew by 15% in the fourth quarter, compared to the previous year. Earlier, Visa disclosed that their fourth quarter commercial volume was 13% ahead […]
by Jim Salters Glenbrook’s Allen Weinberg and Jim Salters are attending this week’s Payments 2008 conference in Las Vegas. Here’s Jim’s report on the day one general session.
Glenbrook’s Allen Weinberg is attending this week’s Payments 2008 conference in Las Vegas. Here’s Allen’s first report from today’s sessions. This year’s NACHA Payment conference offered an incredible array of sessions, making the choices difficult indeed. In fact, most time slots offered 12, yes 12, concurrent sessions, of which at least 4 or 5 were […]
I spoke last week with Elliott McEntee, President and CEO of NACHA about two current issues – NACHA’s reaction to “de-coupled debits” and the progress of the Secure Vault Payments program. Decoupled Debit – Background Decoupled debit programs, announced by both Capital One and HSBC (as issuers) and Tempo (as a processor) take a normal […]
Here’s an update on NACHA topics from this morning’s sessions at the Association for Financial Professionals conference being held this week in Boston. Check to ACH Conversion Some of us in the industry will remember a brief and ill-fated “Check-ACH Coalition” in 2006, targeting a larger-scale conversion of checks to ACH, at a bank’s instigation […]
Glenbrook’s Jim Salters was at NACHA’s Payments 2007 conference earlier this week. Jim filed the following report from the conference.