Homework Sourseadditional information wwwnachaorg The executive director o
additional information : www.nacha.org
The executive director of operations of Centervale Apparel has asked you to research this issue and prepare a presentation for the executive committee to educate them on these issues. With the increasing use of digital payments and the decreasing use of cash payments, enhanced digital security and tracking of financial transactions have become significant aspects of many businesses. You remember hearing that the National Automated Clearing House Association (NACHA) is a leader in this field and would be a good place to start your research.
Review the following:
NACHA - The Electronic Payments Association. (2011). News headlines. Retrieved from www.nacha.org
Online library resources as well as NACHA’s Web site article to complete the following:
Describe NACHA and its role.
Examine and explain the Automated Clearing House (ACH), its role, and how it relates to NACHA.
List and explain the key participants in an ACH e-payment.
Describe the key initiatives currently underway at ACH.
Identify and analyze at least four digital payment concerns Centervale Apparel might want to consider in light of what you have learned from NACHA.
Use the Notes function in Microsoft PowerPoint to prepare detailed speaker’s notes for your formal presentation to the executive committee.
Develop a 3–5-slide presentation in PowerPoint format. Add speaker notes. Apply APA standards to citation of sources..
Described NACHA and its role.
Examined and illustrated ACH, its role, and how it relates to NACHA. Listed and explained the key participants in an ACH e-payment.
Described the key initiatives currently underway at ACH.
Identified and analyzed at least four digital payment concerns Centervale Apparel might want to consider in light of what you’ve learned from NACHA.
Wrote in a clear, concise, and organized manner; demonstrated ethical scholarship in accurate representation and attribution of sources; displayed accurate spelling, grammar, and punctuation.
| Described NACHA and its role. |
| Examined and illustrated ACH, its role, and how it relates to NACHA. Listed and explained the key participants in an ACH e-payment. |
| Described the key initiatives currently underway at ACH. |
| Identified and analyzed at least four digital payment concerns Centervale Apparel might want to consider in light of what you’ve learned from NACHA. |
| Wrote in a clear, concise, and organized manner; demonstrated ethical scholarship in accurate representation and attribution of sources; displayed accurate spelling, grammar, and punctuation. |
Solution
NACHA is The National Automated Clearing House Association (NACHA) is an effective not-for-profit trade association. It helps for developing the operating rules and essential business practices. This is done for the purpose of automated clearing houses and different sections of electronic payments. It helps to manage development, administration of ACH network administration.
The important participants in the ACH e payment process includes financial institutions. The DCT Pilot helps for determining the importance of organization role of ACH network and how it helps for settlement of consumer paper of low value for saving the costs and enhancement.
The network of ACH has around 11000 members which include financial institutions and banks. These offer deposit, direct debit services. The ACH network is governed by NACHA and it ensures that it stays as a reliable and secure network with organization of electronic payments.
The important tools and resources are eorovuded by NACHA for facilitation of electronic payments. The website of NACHA helps even small businesses with relation to direct deposits, check conversion etc.
