article thumbnail

New NACHA Rule Could Catch Payment Processors, Merchants, FIs Off-Guard

PYMNTS

The rule change not only could bring more work for financial institutions and payment service providers, but also underscores the effort needed to bring more payments into the digital age with faster speed and more security — all part of that general ideal. The rule change is the subject of a recent white paper published by GIACT.

article thumbnail

5 Benefits of ACH Payments Over Check Payments

Stax

According to NACHA, most ACH transfers process the same or next-day. In 2020 there was an average of 1.4 A recent study by the Better Business Bureau states that fraud and identity theft rose by 45% from 2019 to 2020. Another significant NACHA rule is the requirement for authorization.

ACH 88