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XML-formatted remittance data in the ACH

XML-formatted remittance data in the ACH

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Should the ACH enable the exchange of XML remittance data? That's the question asked in this paper produced by the Internet Council of the North American Clearing House Association (Nacha).

Nacha describes the purpose of the document as to summarise the issues pertaining to this question through a SWOT (strengths, weaknesses, opportunities, and threats) analysis of the:
• current state of ACH business-to-business (B2B) payment and remittance processing;
• emerging usage of XML in payments and remittance; and
• perceived future of Internet-based B2B payments.
The scope of the analysis is limited to evaluating ACH-based remittance origination and receipt in business-to-business (B2B) payment transactions. The paper is directed at business managers and other decision makers among current ACH stakeholders, to help them evaluate the arguments for – and against - using XML formatted remittance data in ACH remittance processing - through their electronic lockbox, integrated payables, and/or other related services.

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