Nacha, US Faster Payments Council launch Faster Payments Playbook

Nacha and its Payments Innovation Alliance, jointly with the US Faster Payments Council have launched the Faster Payments Playbook.

The Playbook is a co-branded industry resource developed by the two groups that will help stakeholders level-set on faster payments developments, assess the benefits and requirements of faster payments, and navigate the process of developing a faster payments strategy. While the current iteration of the Playbook focuses on developing a faster payments strategy for financial institutions, the next version will focus on business end users.

The Alliance – comprised of a diverse membership of nearly 200 organisations including corporates, third-party processors, fintechs and financial institutions – is playing a crucial role in helping organizations gain clarity on the topic of faster payments. The Faster Payments Project Team was formed in June 2018.

Nacha is a nonprofit organisation that convenes hundreds of diverse organisations to enhance and enable ACH payments and financial data exchange within the US and across geographies. Through the development of rules, standards, governance, education, advocacy, and in support of innovation, Nacha’s efforts benefit all stakeholders. Nacha is the steward of the ACH Network, a payment system that universally connects all US bank accounts and facilitates the movement of money and information. In 2018, there were 27 billion ACH payments, and more than USD 51 trillion in value moved across the ACH Network.