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In a new PYMNTS interview, David Barnhardt, executive vice president of product at GIACT , which offers fraud detection and accountvalidation 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.
If your institution saw an increase in ACH transactions last year, you’re not alone. NACHA, the payments clearing house through which ACH transactions flow, reported a banner year in 2020, posting an 8.2% Additionally, ACH internet transactions rose 15% from 2019 to 2020. As it happens, 2020 was a banner year for ACH fraud, too.
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