NACHA Payments Innovation Alliance Members to Convene in Los Angeles

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Will Explore Issues Including Faster Payments, Cyber Threats and Next Steps for ISO 20022 in the US

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The Payments Innovation Alliance's unique makeup and mission allow it to be an inclusive voice for the payments industry and the ACH Network.

The Electronic Payments Association today announced its Payments Innovation Alliance will host a members meeting in Los Angeles on March 3-5, 2015. Launched last year, the Alliance is a membership group that encourages industry dialogue and collaboration to help advance domestic and global payments.

During the meeting, Alliance members will discuss a variety of payments-related topics. Key topics include:

  • Real Time in Real Life – A member collaboration session featuring small group discussions on the end-user impact of real-time messaging for specific use cases.
  • Moving Payments Faster – NACHA’s Proposal for Same Day ACH – An in-depth look at the proposal, including key use cases for consumer and business payments, and a discussion of initial industry comments from the recently completed request for comment phase.
  • Cyber Threats – A Global View – An overview of global activity and trends related to cyber threats, hacks and breaches, and a look at coordination efforts to address such concerns.
  • Third-Party Senders – A discussion of a new NACHA proposal to develop a rules-based third-party sender registration program and the future development of a voluntary certification program.
  • Leveraging Mobile for ACH – An overview of a soon-to-be-released position paper from the Alliance that will explore the use of mobile devices in ACH transactions.
  • Strategies for Improving the U.S. Payment System – What’s Next? – A follow-up discussion to the February release of the Fed’s paper that encourages improvement to the payment system. Claudia Swendseid, senior vice president of the Federal Reserve Bank of Minneapolis, will lead the dialogue.

“The Payments Innovation Alliance is a growing body of more than 200 member organizations from throughout the payments ecosystem and from around the globe. Members are tasked with exploring and challenging industry ideas and issues,” said Janet O. Estep, NACHA president and CEO. “It is this unique makeup and mission that allow the Alliance to be an inclusive voice for the payments industry and the ACH Network.”

Members of the media interested in attending the “Strategies for Improving the U.S. Payment System – What’s Next?” session with Claudia Swendseid of the Federal Reserve Bank of Minneapolis on Thursday, March 5, at 8:30 a.m. in Los Angeles should contact NACHA at (703) 561-3925 or media@nacha.org.

About the Payments Innovation Alliance
The Payments Innovation Alliance brings together diverse, global stakeholders to support payments innovation, collaboration, and results through discussion, debate, education, networking, and special projects that support the ACH Network and the payments industry worldwide. By organizing content and focus across all payment areas, including emerging payment technologies, electronic billing and presentment, mobile, payment security/risk, check conversion and global payments, the Alliance seeks to grow and advance payments and payments technology to better meet and serve the needs of the evolving industry. For more information and to learn how to join, visit https://alliance.nacha.org.    

About NACHA—The Electronic Payments Association
Since 1974, NACHA – The Electronic Payments Association has served as trustee of the ACH Network, managing the development, administration and rules for the payment network that universally connects all 12,000 financial institutions in the U.S. The Network, which moves money and information directly from one bank account to another, supports more than 90 percent of the total value of all electronic payments in the U.S. Through its collaborative, self-governing model, education, and inclusive engagement of ACH Network participants, NACHA facilitates the expansion and diversification of electronic payments, supporting Direct Deposit and Direct Payment via ACH transactions, including ACH credit and debit payments, recurring and one-time payments; government, consumer and business transactions; international payments, and payments plus payment-related information. Through NACHA’s expertise and leadership, the ACH Network is now one of the largest, safest, and most reliable systems in the world, creating value and enabling innovation for all participants. Visit nacha.org for more information.

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Kendra Beasley
NACHA - The Electronic Payments Association
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