EastPay to Endorse NACHA Communications Project Streamlining Industry Terminology

EastPay announced today it will support NACHA’s Messaging Project initiative to develop clear, powerful messaging ensuring a common understanding of the NACHA Operating Rules, the ACH Network, and ACH payments. The initiative involves the definition, adoption, and consistent use of industry terminology to explain the ACH Network, ACH payments, and their attributes and advantages.

NACHA worked alongside industry professionals during the past 12 months to determine that the right terminology and messages were being used. Based on the results of this research, NACHA developed specific language to define the ACH Network, generated terminology to explain ACH payments, and created distinctive phrasing to convey the role of the ACH Network and its characteristics. As a Regional Payments Association member of NACHA, EastPay will support its efforts to create consistent messaging to drive awareness and acceptance of the updated messaging.

“The NACHA Message Project provides a significant opportunity for all financial institutions and businesses to better communicate about the ACH Network and ACH payments,” said Norman Robinson, AAP, CTP, President & CEO, EastPay. “We encourage our members to use the materials and resources available to begin incorporating the messages, terminology, and phrasing into their materials and products.”

Four core messages will be supported when referring to the ACH Network and ACH payments:

  • Message 1 defines the ACH Network: The ACH Network is the backbone for the electronic movement of money and other related data, providing a safe, secure, reliable network for direct consumer, business, and government payments.
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  • Message 2 describes Network inclusiveness: Large and small financial institutions of all kinds jointly govern and utilize the ACH Network, facilitating billions of payments such as Direct Deposit and Direct Payment.
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  • Message 3 positions the NACHA Operating Rules: The ACH Network is governed by fair and equitable rules that guide risk management and create certainty for all participants.
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  • Message 4 emphasizes Network innovation: As the migration from paper to electronic payment continues, the cost-effective ACH Network will grow and enable innovation that strengthens the industry with creative payment solutions.
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In addition, terminology was created that refers to the specific language used to explain ACH payments. “The industry indicated that Direct Deposit should continue to be used as it has been, but the definition of Direct Payment should be expanded to include all other forms of payment,” said Steve Vaglio, AAP, Senior Vice President, Payments Advisory Services & Marketing, EastPay. Steve is a member of NACHA’s Communications & Marketing Advisory Group that helped develop the new messaging.

Finally, it became evident that a vehicle was needed to articulate the connection between Direct Deposit and Direct Payment and the ACH Network. The phrase “via ACH” will bridge this gap: “via ACH” is the differentiating phrase that links ACH payments back to the Network.

For more information or to download turn-key materials to support this ongoing messaging project, visit http://direct.nacha.org.

ABOUT EASTPAY: EastPay is a trade association providing over 800 financial institutions and businesses primarily in the Southeast with payments education, regulatory compliance support, Payments Advisory Services, and Risk Management Services. As accredited experts on the operating rules of the Automated Clearing House (ACH) network, EastPay helps organizations take advantage of the opportunities and avoid the risk presented by the phenomenal growth of electronic payments. EastPay is a Regional Payments Association member of NACHA – The Electronic Payments Association.