Magazine article American Banker

Nacha Testing Bill Presentment over ACH Network

Magazine article American Banker

Nacha Testing Bill Presentment over ACH Network

Article excerpt

Nacha, the electronic payments association, is testing an online bill presentment service that runs on the automated clearing house network.

The Herndon, Va., trade group announced the yearlong test Monday, involving three banks and one biller, Verizon Communications Inc. in New York.

Verizon's bank, which Nacha would not name, transmits bill summary information to two receiving banks, Wells Fargo & Co. in San Francisco and Dollar Bank in Pittsburgh, which can present the data to customers on their online bill payment sites.

Elliott C. McEntee, the Herndon, Va., association's president and chief executive, said the service, called Electronic Billing Information Delivery Service, or Ebids, is easy for banks to install and has more potential users than other e-bill delivery services.

"The ACH network has far greater reach to billers than any other network in the country," Mr. McEntee said. "Virtually every financial institution in the country - 15,000 of them - participate[s] on the ACH network, so 15,000 of those institutions could offer this service to their customers, which would increase the reach that the biller has to present bills electronically."

Billers' banks do not need to make change in their payments systems, as long as they can accept ACH files, but banks that want to receive the information on behalf of consumers must install the software to do so.

Nacha said it is working with the financial technology vendors Fidelity National Information Services Inc. …

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