NACHA—The Electronic Payments Association® announced today that its Payments Innovation Alliance released a white paper, “Leveraging the Mobile Channel for ACH Payment Innovation.”
The paper asserts that the payments industry and its embrace of mobile stand at an important crossroad. The increasing use of mobile devices by consumers and corporates, the steady introduction of new mobile point-of-sale solutions, and the advancement of the ACH Network together make mobile an important option for moving money and payment information.
“The mobile future is here,” said George Throckmorton, managing director, Advanced Payments Solutions at NACHA. “The use of mobile devices with ACH transactions is ripe for rapid adoption and further innovation given that it is a ubiquitous, low cost means of accessing payments.”
The paper explores the current landscape for mobile payments; the role of mobile in ACH transactions; and assesses the challenges and opportunities of using the mobile channel for ACH for merchants, billers, consumers and corporates.
The Payments Innovation Alliance held a members meeting March 3-5 in Los Angeles to discuss a variety of payments-related topics, including a session dedicated to providing an overview of the white paper and smaller group discussions about the issues it raises around the use of mobile devices in ACH transactions. Launched last year, the Alliance is a membership group that encourages industry dialogue and collaboration to help advance domestic and global payments.
Full paper:Download the document now 4.8 mb (PDF File)