VPay has successfully demonstrated that it has policies, practices and controls that meet NACHA’s criteria for serving as a NACHA Certified Third-Party Sender in the ACH Network.
HERNDON, Va. (PRWEB) June 26, 2018
NACHA—The Electronic Payments Association® has designated VPay, a business-to-business payments solution provider, as a NACHA Certified Third-Party Sender.
NACHA Certified is a voluntary certification program that enables a Third-Party Sender in the ACH Network to show to their customers, banking partners, and peers that they are meeting NACHA standards that signal sound core practices associated with high-quality ACH payment processing.
“We congratulate VPay for becoming the first Third-Party Sender in the claims payments field to achieve the NACHA Certified designation,” said NACHA Chief Operating Officer Jane Larimer. “VPay has successfully demonstrated that it has policies, practices and controls that meet NACHA’s criteria for serving as a NACHA Certified Third-Party Sender in the ACH Network.”
VPay facilitates billions of dollars in payments – ACH, virtual cards, and checks for clients in insurance verticals including: TPAs, Health Plans, Dental Plans, Property & Casualty, and Workers’ Compensation payers – to over 750,000 unique service providers.
“VPay is committed to providing value to our customers by improving the payment experience and reducing cost. The conversion of paper checks to processing quality electronic payments, including ACH, is a key component of our Total Payments Solution,” said Ben Peters, Chief Operating Officer, VPay. “Achieving NACHA Certification demonstrates that VPay’s strong core practices for processing ACH transactions are meeting the highest quality industry standard and reinforces our leadership in B2B payments.”
About NACHA—The Electronic Payments Association
NACHA—The Electronic Payments Association is a nonprofit organization that convenes hundreds of diverse organizations to enhance and enable electronic payments and financial data exchange within the U.S. and across geographies. Through development of rules, standards, governance, education, advocacy, and in support of innovation, NACHA’s efforts benefit the providers and users of those systems. NACHA leads groups focused on API standardization, authors the Quest Operating Rules for EBT and is also the steward of the ACH Network, a payment system that universally connects all U.S. bank accounts and facilitates the movement of money and information. In 2017, there was a total of nearly 26 billion ACH transactions. Of these, 21.5 billion ACH payments valued at $47 trillion moved across the ACH Network, and more than 4 billion were on-us transactions within financial institutions. Visit nacha.org for more information, and connect with us on LinkedIn, Twitter, Facebook and YouTube.