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Seeking Information on WEB Authorizations |
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On behalf of NACHA's Internet Council, EastPay is seeking participants for a project that is seeking to determine what occurs in the ACH Network when a RDFI asks an ODFI for proof of authorization for a WEB transaction.
We are seeking to briefly interview ODFI and Originators who originate WEB transactions. The interview will only take about 30 minutes and the results will be kept confidential. The purpose of the project is to determine if the NACHA Operating Rules need to be modified to clarifiy the requirements as to what exactly constitutes proof of authorization for a WEB.
If you are interested, please contact Brad Smith at 800-681-4224 x104 or by email at bsmith at eastpay.org.
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NACHA’s Mobile Banking Teleseminar Series |
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Mobile payments are gaining momentum and the financial services industry is beginning to seize the opportunity to expand their payment services into the mobile world.
Register and pay for 4 teleseminars and receive the 11/13 “Merchant Experiences with Mobile Commerce” teleseminar for FREE!
Offer good through June 8, 2008. Visit our Mobile Banking Telseminar page for details about the Teleseminars.
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ACH Payments up 8.3% in 1st Quarter '08 |
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ACH Payments up 8.3 Percent in 1st Quarter 2008
ACH Network volume increased by 8.3 percent in the 1st quarter of 2008 compared to the same quarter a year ago, rising to a total of 3,706,595,919 payments. The dollar value of these payments was $7.5 trillion, an increase of 6.6 percent over the 1st quarter figures for 2007.
Commercial ACH volume accounted for 92.2 percent of transactions, or 3,417,117,503 payments. Federal government ACH volume was 289,478,416, which include a significant portion of the tax filing and refund season.
The largest growth rate occurred in Point-of-Purchase (POP) transactions, increasing 48.7 percent from the 1st quarter of 2007. The largest numerical growth occurred in Internet-initiated entries (WEB), increasing by 83.8 million payments over the 1st quarter of 2007.
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More...
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ACH Rules Supplement #3 |
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NACHA Operating Guidelines – Company Name Identification Rule Amendment
On June 20, 2008, the NACHA Operating Rules will be amended to incorporate clarifications to the definition of the Company Name Field within the Company/Batch Header Record. This Supplement #3-2008 provides updated NACHA Operating Guidelines related to these changes, adding new language to help clarify the proper use of this field. Examples of origination scenarios and the proper use of the Company Name Field in those cases are provided to assist Originators and ODFIs in properly identifying Originators of ACH payments.
Formal Rules Interpretation – Proper Use of SEC Codes and Aggregation of Transactions
On March 20, 2008, NACHA’s Board of Directors approved a delay in the implementation date of the Formal Rules Interpretat ...
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Three Rules Ballots Passed |
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On Tuesday, April 29, 2008, the NACHA Voting Membership approved three ballots on amendments to the NACHA Operating Rules. The amendments are Category C (Minor Impact) Issues – Ballot #2-08 (June 20, 2008 Implementation), Ballot #3-08 (September 19, 2008 Implementation) and Ballot #4-08 (March 20, 2009 Implementation).
All three ballots were approved with identical votes of 100 percent of the weighted votes cast (9,171 votes approving), and 100 percent of members voting (39 members approving). The ballots were not vetoed by either of the membership classes.
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