NACHA Supports the Work of the Merchant and Financial Services Cybersecurity Partnership

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Partnership Focuses on Exploring Paths to Increased Information Sharing, Better Card Security Technology, and Maintaining Trust of Customers

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Our participation in the Partnership will help support the continued reliability of electronic payments, ensuring they remain a trusted payment option for consumers.

Today, NACHA —The Electronic Payments Association® announced that it is supportive of the work of the Merchant and Financial Services Cybersecurity Partnership. The Partnership, launched earlier this year, will facilitate collaboration amongst payments stakeholders in an effort to improve security across the payments system and better protect customers from cyber threats.

“NACHA is pleased to be a part of the Merchant and Financial Services Cybersecurity Partnership,” said Janet O. Estep, president and CEO of NACHA. “As the trustee of the ACH Network, we work with the industry to ensure that ACH Network payments move safely, securely and efficiently. Our participation in the Partnership will help support the continued reliability of electronic payments, ensuring they remain a trusted payment option for consumers.”

NACHA participates in the Merchant and Financial Services Cybersecurity Partnership with a host of other associations including: Retail Industry Leaders Association (RILA), Financial Services Roundtable (FSR), American Bankers Association (ABA), American Hotel & Lodging Association (AH&LA), The Clearing House (TCH); Consumer Bankers Association (CBA), Electronic Transactions Association (ETA), Financial Services Forum (FSF), Food Marketing Institute (FMI), Independent Community Bankers of America (ICBA), International Council of Shopping Centers (ICSC), International Franchise Association (IFA), Merchant Advisory Group (MAG), National Associations of Convenience Stores (NACS), National Association of Chain Drug Stores (NACDS), National Grocers Association (NGA), National Restaurant Association (NRA), and National Retail Federation (NRF).

In an effort to educate and create awareness around cybersecurity, the Merchant and Financial Services Cybersecurity Partnership is hosting an event, “Cybersecurity: Protecting the Payments System.” The event will take place today, from 9:30 a.m. – 12:30 p.m. at the Reserve Officers Association in Washington, DC. In partnership with Bloomberg Government, the event is focused on how the entire ecosystem, financial services companies, merchants and policymakers can find solutions for cybersecurity, information and secure advanced payments problems in Washington. The event will feature speakers such as Chairman Mike Rogers, House Select Committee on Intelligence; Reed Luhtanen, Senior Director for Payments Strategy, Wal-Mart; Kim Lawrence, Senior Vice President, Global Corporate Initiatives, VISA; and Nancy O’Malley, Chief Payment System Integrity Officer, MasterCard, among others. For more information, visit http://fsroundtable.org/events.

About the Merchant and Financial Services Cybersecurity Partnership
The Merchant and Financial Services Cybersecurity Partnership is led by the Financial Service Roundtable and the Retail Industry Leaders Association. Through an Advisory Committee and five working groups (Threat Information Sharing, Cybersecurity Risk Mitigation, Advanced Card Present Security Technology, Card Not Present and Mobile Security, and Cybersecurity & Data Breach Notification), the Partnership will work to improve overall security across the payments ecosystem, bolster consumer confidence in the security of their payment data, and innovate the technology systems used to process payments.

About NACHA — The Electronic Payments Association
NACHA manages the development, administration, and governance of the ACH Network, the backbone for the electronic movement of money and data. The ACH Network provides a safe, secure, and reliable network for direct account-to-account consumer, business, and government payments. Annually, it facilitates billions of Direct Deposit via ACH and Direct Payment via ACH transactions. Used by all types of financial institutions, the ACH Network is governed by the fair and equitable NACHA Operating Rules, which guide risk management and create payment certainty for all participants. As a not-for-profit association, NACHA represents more than 10,000 financial institutions via 16 Regional Payments Associations and direct membership. Through its industry councils and forums, NACHA brings together payments system stakeholders to foster dialogue and innovation to strengthen the ACH Network. To learn more, please visit http://www.nacha.org, http://www.electronicpayments.org, http://www.payitgreen.org, and http://direct.nacha.org.

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Kendra Beasley
NACHA - The Electronic Payments Association
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