What is a Regional Payment Association?

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Regional Payment AssociationAre you interested in the payments processing field? Do you like working with numbers and accounting? Are you trying to weigh the benefits of working in a financial institution such as a credit union or bank? If you work in finance, or you are preparing to, you’ll need to become familiar with regional payments associations.

What is a Regional Payment Association?

A regional payment association is a licensed organization that processes Automated Clearing House (ACH) payments and provides support and publications on financial payments and the credit/debit transaction industry. ACH officially is an electronic network for many different financial transactions. They process credit transfers, credit payments, debit transactions, direct deposits, vendor payments and direct deposits in large volumes for businesses and institutions. Regional payment associations are located all throughout the United States, the Virgin Islands, Puerto Rico and Guam, making it easy for those part of an ACH network to get the information and resources they need to complete large-batch financial transactions.

What Do You Get Out of a Regional Payment Association?

Are you ready to become a member of a regional payment association? One thing you should know is that a regional payment association is an independent organization, and there are many throughout the U.S. and U.S. terrorizes. These independent organizations welcome all kinds of credit unions, e-commerce companies, financial institutions, corporations, and companies that provide a wide variety of technology payments to become a member of a local regional payments association. These associations collectively are involved in NACHA, previously known as the National Automated Clearing House Association. NACHA is the organization that oversees the administration and evelopment of the ACH network and if funded by the credit unions, companies and financial institutions that are its members. If you are part of a financial institution that would like to be a member of a regional payment association, then you will receive the following benefits of membership:

  • Give input as the ACH network grows in the future
  • Guide NACHA as it develops new operating rules and discerns how to better support its members.
  • Access new training courses and educational opportunities to help ensure you have the best skills in your field.
  • Opportunity to be a spokesperson for the ACH network in local, state and federal circles.
  • Latest marketing tools and information on audit services and publications.
  • Discounts and member pricing as part of your membership.

Related Resource: Payment Gateway

Are You Ready to Join?

If you are ready to join NACHA, visit their site to learn where an association is in your area and how you get involved right away. Don’t miss out on receiving the most updated information on financial institutions and payment processors. Regional payment associations make sure you have access and the opportunities to get ahead in your field. There are several levels of membership, and you can choose which one suits you the best and works for your career interests and goals by taking NACHA’s online quiz.

 

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