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In a new PYMNTS interview, David Barnhardt, executive vice president of product at GIACT , which offers fraud detection and account validation tools, talks about an upcoming change by NACHA, national administrator of the ACH network, to make internet-initiated debit transactions (WEB debits) safer and more seamless. New NACHARule.
Navigating electronic payments requires a thorough understanding of compliance standards set forth by governing bodies such as the National Automated Clearing House Association (NACHA) network. What is NACHA? Data security NACHA imposes stringent requirements to protect sensitive financial data.
NACHA has grown considerably in the past 25 years,” said Stone. “As As the NACHARules have evolved, so has the concept that the Standard Entry Class can be used to determine how an ACH Entry is handled.” Today, there are 23 Standard Entry Classes, and the NACHARules are oriented around them.”. “If
Key regulations governing EFT payments include the National Automated Clearing House Association (NACHA) rules, which establish guidelines for ACH transfers, and the Payment Card Industry Data Security Standard (PCI DSS), which sets security standards for handling card information.
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