“We’re working together to make Nacha Certified a success and bring more Third-Party Senders into certification. The payments associations are uniquely positioned to help make that happen" - Michael Herd, Nacha Senior Vice President, ACH Network Administration
HERNDON, Va. (PRWEB) January 23, 2020
Nacha is partnering with seven members of The Center for Payments to expand the reach of Nacha Certified, a voluntary certification program for Third-Party Senders that enhances the quality of the ACH Network.
Under a new cooperative agreement, seven Center for Payments member payments associations are able to conduct Nacha Certified reviews. These participants have been trained by Nacha and use Nacha’s materials to assess whether a Third-Party Sender applicant meets all Nacha Certified criteria. Final approval of all reviews will come from Nacha.
“This is a cooperative program between Nacha and the payments associations, designed to contribute to the high quality of payments that flow through the ACH Network,” said Michael Herd, Nacha Senior Vice President, ACH Network Administration. “We’re working together to make Nacha Certified a success and bring more Third-Party Senders into certification. The payments associations are uniquely positioned to help make that happen.”
“The Nacha Certified program supports ePayResource’s objective to ensure that all stakeholders in the payments value chain thoroughly understand and execute their obligations under the Nacha Operating Rules,” said Laura Steele, President and CEO of ePayResources, a member of The Center for Payments. “The program enhances the trend for excellence in payments established by The Center for Payments’ education and audit services.”
The Center for Payments members partnering with Nacha in this effort are:
- NEACH Payments Group
- Payment Advisory Resource
- Payments First
- WesPay Advisors
All Third-Party Senders that have been in payments processing for at least two years are eligible to become Nacha Certified. Achieving Nacha Certified status signals to customers, financial institutions and peers that a Third-Party Sender meets Nacha’s standards for sound core practices in ACH payment processing, has a solid risk and compliance program, and demonstrates stability and sound governance. Learn more at nachacertified.org.
Nacha is a nonprofit organization that convenes hundreds of diverse organizations to enhance and enable ACH payments and financial data exchange within the U.S. and across geographies. Through the development of rules, standards, governance, education, advocacy, and in support of innovation, Nacha’s efforts benefit all stakeholders. Nacha is 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 2018, there were 27 billion ACH payments, and more than $51 trillion in value moved across the ACH Network. Nacha also leads groups focused on API standardization and B2B payment enablement. Visit nacha.org for more information, and connect with us on LinkedIn, Twitter, Facebook and YouTube.
About The Center for Payments
The Center for Payments is a cooperative program sponsored by eleven payments associations with the purpose of helping members and staff better prepare for the continued evolution in U.S. payment systems. Current participants in the program include ePayResources, EPCOR, MACHA, NEACH, PaymentsFirst, SHAZAM, Southern Financial Exchange, The Clearing House Payments Authority, UMACHA, WACHA and WesPay. These associations represent over 10,000 financial institution members, businesses and stakeholders with an interest in U.S. payment systems. Visit centerforpayments.org, contact us at email@example.com and follow us on Twitter.