NACHA Announces Official Payments and Paychex Are NACHA Certified
SAN DIEGO, April 30, 2018 /PRNewswire/ -- NACHA -- The Electronic Payments Association® announced Official Payments, an ACI Worldwide company, and Paychex have joined First Data's TeleCheck and Payment Data Systems as Third-Party Senders that have become NACHA Certified.
NACHA Certified is a voluntary program enabling Third-Party Senders to demonstrate to their customers, banking partners and peers that they are meeting NACHA standards that signal sound core practices associated with high-quality ACH payment processing.
"NACHA Certified is a voluntary program that allows Third-Party Senders to differentiate themselves in today's competitive market," said NACHA Chief Operating Officer and General Counsel Jane Larimer. "Paychex and Official Payments have demonstrated strong leadership in their respective industries by becoming NACHA Certified."
Official Payments is a Third-Party Sender that provides payment services for the IRS, state governments, colleges and universities, utilities, courts and municipalities.
"As a payments leader and longtime NACHA partner, we believe it is important for companies to know they are dealing with reputable Third-Party Senders who are fully committed to the consumer experience, as well as rules and regulations around ACH payments," said Steve Kramer, vice president, ACI Worldwide. "Achieving NACHA Certified status reaffirms Official Payments' position as a leader in the payments space and our role in protecting the integrity of the ACH Network."
While not a substitute for financial institutions' own due diligence, the NACHA Certified designation also provides them with an additional level of confidence in those Third-Party Senders.
Paychex is a recognized Third-Party Sender and a leading provider of integrated human capital management solutions for payroll, HR, retirement and insurance services that pays one out of every 12 American private sector employees.
"Being NACHA Certified sets us apart in a competitive market as a strong business partner to our more than 600,000 clients and is also especially important to our trusted banking partners," said Paychex VP of Risk, Compliance and Data Analytics Frank Fiorille. "Paychex employs effective business oversight and understands the risk and compliance obligations associated with processing ACH transactions – so the choice was clear to become NACHA Certified."
About NACHA—The Electronic Payments Association
NACHA—The Electronic Payments Association is a nonprofit organization that convenes hundreds of diverse organizations to enhance and enable electronic payments and financial data exchange within the U.S. and across geographies. Through development of rules, standards, governance, education, advocacy, and in support of innovation, NACHA's efforts benefit the providers and users of those systems. NACHA leads groups focused on API standardization, authors the Quest Operating Rules for EBT and is also 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 2017, there was a total of nearly 26 billion ACH transactions. Of these, 21.5 billion ACH payments valued at $47 trillion moved across the ACH Network, and more than 4 billion were on-us transactions within financial institutions. Visit nacha.org for more information, and connect with us on LinkedIn, Twitter, Facebook and YouTube.
Contact: Kendra Beasley
NACHA
703-561-3923
[email protected]
SOURCE NACHA - The Electronic Payments Association
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