Realizing the value of Same Day ACH
Published: April 10, 2016
Scott Lang, NACHA senior vice president, association services discusses the Same Day ACH Rule and how it provides a ubiquitous same-day clearing and settlement capability for virtually all ACH payments.
EUROPEAN PAYMENTS COUNCIL NEWSLETTER
Realising the value of Same Day ACH Same Day ACH is a key part of the faster payments movement in the U.S.
BY SCOTT LANG, SENIOR VICE PRESIDENT, ASSOCIATION SERVICES FOR NACHA
As one of the most significant changes for the ACH Network in its 40-plus-year history, Same Day ACH is a key part of the faster payments movement in the U.S. In this article, Scott Lang, from NACHA—The Electronic Payments Association® in the U.S., discusses the new Same Day ACH Rule and how it provides a ubiquitous same-day clearing and settlement capability for virtually all ACH payments.
The views expressed in this article are solely those of the author and should not be attributed to the European Payments Council.
Each year the Automated Clearing* House (ACH) Network — the payment network that universally connects all 12,000 financial institutions in the U.S. — transmits billions of transactions, mostly overnight from one financial institution to another. Yet in today’s environment, everyone wants everything faster—and that includes payments. This is why NACHA—The Electronic...