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

PYMNTS

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.

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How to Stay Compliant with NACHA Requirements

EBizCharge

Ensuring compliance with NACHA requirements is crucial for financial institutions, as it guarantees the secure, efficient, and reliable handling of electronic payments. NACHA’s detailed operating rules help prevent fraudulent transactions and safeguard the integrity of electronic transactions across bank accounts and financial accounts.

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What Is a Direct Debit?

Payment Savvy

Here’s how it works: Select the Payment Option : When purchasing or subscribing to a service, look for the option to pay via direct or ACH debit. This option is commonly available for recurring payments like utilities, insurance premiums, or subscription services. In the U.S.,

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Understanding EDI Payments: Key Differences from ACH and EFT Transactions

EBizCharge

ACH is widely known for processing large credit and debit transactions, including direct deposits and bill payments. Standards: EDI follows strict international standards for formatting electronic documents, whereas ACH transactions comply with the National Automated Clearing House Association (NACHA) rules.

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