Who is Nacha?

Michael Herd, SVP of ACH Network Administration at Nacha

Join The Payments Professor, Kevin Olsen, for an insightful conversation with Michael Herd, SVP of ACH Network Administration at Nacha. Michael shares his fascinating journey from communications professional to payments expert, revealing his passion for the industry and its impact on everyday lives.

Key Takeaways:

• Learning from the Ground Up: Michael entered the payments industry without prior experience, highlighting the importance of continuous learning and adaptability.

• A Network of Rules: Michael emphasizes the role of rules in ensuring the smooth operation and interoperability of the ACH network.

• Open and Transparent Rulemaking: Nacha's rulemaking process involves extensive public input, leading to industry consensus and broad acceptance.

• Education and Resources: Nacha offers a range of educational programs, conferences, and certifications to empower individuals and organizations in the payments space.

• Same Day ACH: A Growth Engine: Michael discusses the significant adoption and expansion of Same Day ACH, highlighting its impact on various use cases.

• Internet Initiated Payments & Bill Payments: Michael acknowledges the critical role of Internet-based payments, particularly in driving the decline of check usage and facilitating online bill payments.

Highlights:

• Michael's career shift from communications to payments administration.

• The role of Nacha in setting and enforcing rules for the ACH network.

• The importance of open and transparent rulemaking.

• Nacha's educational offerings and certifications.

• The success of Same Day ACH and its impact on various use cases.

• The decline of paper checks and the rise of digital bill payments.

Who Should Listen:

• This podcast episode is valuable for anyone interested in payments industry, including:

o Financial professionals: Gain insights into the ACH network and its operations.

o Business owners: Learn how to use ACH payments effectively for your business.

o Consumers: Understand how your daily payments are processed.

o Anyone interested in technology and innovation: Discover the latest advancements in payments technology.

Get Ready to:

• Learn about the ACH network and its role in the payments industry.

• Gain valuable insights from a leading expert in the field.

• Discover the latest trends and innovations in payments technology.

• Improve your understanding of how your daily payments are processed.

Tune in to The Payments Podium to hear the full conversation with Michael Herd and learn more about the fascinating world of payments!