The Board of Directors of NACHA, The Electronic Payments Association, has approved an amendment to the NACHA Operating Rules to allow cross-border electronic debits to be made using the Automated Clearing House (ACH) Network. The amendment also provides legal protections for ACH Network participants needed due to the narrowing of the Cross-Border Payment Operating Rules for international ACH payments. On September 15, 2000, previously approved operating rules become effective establishing the Consumer Cross-Border Transaction (PBR) and Corporate Cross-Border Transaction (CBR) Standard Entry Class Codes for the ACH Network. These rules provide for credit payments. The new rules, also effective on September 15, allow debits to be made. The NACHA Operating Rules standardize payment formats for the ACH Network, and define the rights, obligations and warranties of parties involved in ACH payments. Operating rules provide a uniform business and legal framework for the exchange of payments, which enhances participants’ confidence in the safety and reliability of the payments system.
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more