Details of ACH Quick Start Tool for small and medium-sized businesses
NACHA and its Payments Innovation Alliance recently launched the ACH Quick Start Tool, an online educational resource designed to help small and medium-sized businesses more readily understand and use ACH to make and receive payments for an array of use cases.
Officials explained the alliance is comprised of a diverse membership of corporates, third-party processors, fintechs and financial institutions that has a broad understanding of the payments environment. The ACH Quick Start Project Team was launched to develop actionable tools to help businesses learn more about and adopt ACH as their preferred payment method.
“The ACH Network electronically moves money and data seamlessly and securely. It is the ideal payment method for small and medium-sized businesses to use to pay supplier invoices, bills and other business expenses, as well as get paid for the goods and services they sell ― instead of by check,” NACHA senior vice president Scott Lang said.
“The ACH Quick Start Tool leads businesses through everyday scenarios ― using easily understandable language ― on how they can make payments to and get paid by other companies. We encourage banks, credit unions, fintechs and other payment processors to link to the tool as a complementary educational resource for small and medium-sized business customers,” Lang continued.
NACHA is a nonprofit organization that convenes hundreds of diverse organizations to enhance and enable ACH payments and financial data exchange within the U.S. and across geographies.
The Payments Innovation Alliance is a 200-plus membership organization that brings together diverse, global stakeholders to support payments innovation. Through collaboration, discussion, debate, education, networking and special projects, the alliance seeks to grow and advance payments and payments technology to better meet and serve the needs of the evolving industry.
The ACH Quick Start Tool was unveiled at Smarter. Faster. PAYMENTS 2019. This year’s conference also coincided with National Small Business Week, which recognizes the critical contributions of America’s entrepreneurs and small business owners as they work to grow small businesses, create 21st century jobs, drive innovation, and increase America’s global competitiveness.
For more details, visit the ACH Quick Start online tool at ACHQuickStart.org. For more information on the ACH Quick Start initiative or to join the Alliance’s ACH Quick Start Project Team, go to www.nacha.org/content/payments-innovation-alliance.