Nacha announced that Visa, a world leader in digital payments, has joined its Preferred Partner Program for ACH Experience, Open Banking and Account Validation.
Through Tink, an open banking platform acquired by Visa in 2022, Visa combines the power of its payments and open banking expertise to build innovative products that optimize ACH payment experiences, making it easier for users to connect accounts and provide trusted parties with access to their financial data. Once consumer-permissioned data is integrated, account and balance details can be instantly verified to facilitate faster ACH payment set-up and more seamless payment flows.
“We are pleased to welcome Visa as a Nacha Preferred Partner,” said Jane Larimer, President and CEO of Nacha. “Nacha’s Preferred Partners’ commitment to innovation and security aligns with Nacha’s mission to enhance the ACH Network, ensuring these payments are fast and secure.”
“We’re delighted to expand our relationship with Nacha as a Preferred Partner,” said Haley Nusbaum, Head of U.S. Open Banking, Visa. “With Visa Open Banking Solutions, we’re empowering consumers to take control of their financial data. At the same time, we’re helping financial institutions, fintechs, and merchants verify customer account information, reducing the risk of payment fraud and making the ACH payment experiences simpler, more reliable, and secure.”
Nacha’s Preferred Partner Program recognizes organizations that contribute to advancing the ACH Network.