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NACHA , the electronic payments association, announced that banks and credit unions have registered 9,403 third-partysenders as of the March 1, 2018 deadline. 29, 2017, calls for financial institutions that originate ACH payments to register their third-partysender customers through the NACHA Risk Management Portal.
(The Paypers) Official Payments , an ACI Worldwide company, and Paychex have joined First Data’s TeleCheck and Payment Data Systems as Third-PartySenders that have become NACHA Certified.
We have a growing Third-PartySender portfolio that we monitor closely, and that has us focused on getting ready for the Third-PartySender registration rule.”. Since the 2016 Payments conference, Stone said that his bank has been “enhancing our risk management capabilities associated with ACH processing.
As an example, Hennessy noted the recent debut of NACHA’s third-partysender rule, which took effect at the end of September. The rule mandates that financial firms originating ACH transfers must identify and register their third-party sending customers with NACHA.
As VPay continues that effort, the company recently announced it received certification from NACHA as a third-partysender, a significant vote of confidence for the ACH rail in insurance B2B payments. “That’s the difficult part.” “That’s a positive, in general, for the B2B space.
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