The name change to PaymentsNation is a key component of our strategic plan to educate individuals from within the membership, as well as within the industry on the role that the organization plays in the industry
DALLAS (PRWEB) December 6, 2007
The name was approved by the corporate board following a marketing and branding study conducted by Kemp / Goldberg, a Portland, Maine-based advertising firm. The new company name, PaymentsNation, reflects that the two legacy organizations have come together and created a new enterprise that now offers additional value to its members and the industry.
"The name change to PaymentsNation is a key component of our strategic plan to educate individuals from within the membership, as well as within the industry on the role that the organization plays in the industry," said Glenn Wheeler, CEO. "We feel this name shows how our organization embraces the industry reality of payments convergence, and that we have positioned ourselves with a talented staff of payment professionals with a drive to offer expanded products and services to our membership and provide leadership in the industry."
Each of the heritage organizations offered its own specific range of products and services within the payments industry. NCHA was the single largest national clearing house settler of image volume and paper checks, while PRO was a regional payments association focused on providing education, ACH, and association services. In addition, PRO served as one of NCHA's customer clearing houses for the Arizona check exchange.
Since the Check 21 Act went into effect in 2004, the payments industry has looked at converging payment options that would encompass multiple infrastructures and create cost and operational savings for many payments.
The combined force formed with NCHA's strength in settling clearinghouse paper check, image share and image exchange combined with PRO's special emphasis on payments education effectively rounds out key services to the combined membership. These core services are combined with aggressive risk management services, association services, industry advocacy and representation, strong industry partnerships and ACH audit services, thus providing members of the new organization a comprehensive spectrum of payment solutions for its membership.
PaymentsNation is managed by a four-member Executive Management team, including Wheeler as Chief Executive Officer; Karroll Searcy as Chief Operating Officer; Holly Merrill as President, ACH Services Division; and Tom D'Aquisto, President, Check Services Division.
PaymentNation was formed in 2007 from the merger of The National Clearing House (NCHA), the single largest settler of clearinghouse image and paper check volume in the United States, and Payments Resource One (PRO), a regional payments association and provider of check clearing house services for Arizona.
PaymentsNation offers the flexibility of a total payments solution provider, acting as clearing house as well as information provider, offering educational events, forums, seminars, tools and resources for every type of payments professional. PaymentsNation offers a wide range of products and services for its membership and the industry, including payment system education, auditing, check settlement, collection item exchange, transportation contract management, risk management, training, clearing house rules, association administration services and advocacy.
Membership in PaymentsNation is available to all financial institutions. Current members include approximately 800 financial institutions holding companies that cover an entire cross section in the industry (large, medium, and small banks, savings banks, credit unions, corporate credit unions, and banker's banks). Affiliate membership opportunities are available for non-financial institutions.