HERNDON, Va. (PRWEB) September 12, 2017
NACHA—The Electronic Payments Association®, the trustee and rulemaker of the ACH Network, issued the following statement today:
NACHA commends the U.S. Treasury – the largest user of the ACH Network – for its decision to participate in Same Day ACH. There are significant Same Day ACH use cases for the U.S. Treasury, such as disaster assistance payments and receipt of tax collections and remittances. As the payments industry in the U.S. moves toward ubiquitous faster payments options, it is appropriate and welcome for the U.S. government to take part, using the same payment network and the same set of operating rules as the private sector.
About NACHA—The Electronic Payments Association
NACHA—The Electronic Payments Association is the steward of the ACH Network – one of the largest, safest and most reliable payment systems in the world. The ACH Network creates value and enables innovation by universally connecting all U.S. financial institutions, and moving money and information directly from one bank account to another. In 2016, there were 25 billion ACH payments made that moved $43 trillion. NACHA also brings together diverse organizations to develop rules and standards to benefit payments ecosystem participants, including Electronic Benefits Transfer (EBT) and healthcare Electronic Funds Transfer (EFT). By collaborating with other standards organizations and geographies, NACHA facilitates compatibility and integration with U.S. payments. Visit nacha.org for more information. Follow NACHA on Twitter, LinkedIn, Facebook and YouTube.