The second in a series of webinars on automated clearing house (ACH) topics, hosted by ACH Direct and the Upper Midwest ACH Association (UMACHA), is scheduled for Tuesday, April 8 on "Authorization Requirements."
ALLEN, Texas (Business Wire EON) March 27, 2008 --
The second in a series of webinars on automated clearing house (ACH)
topics, hosted by ACH Direct and the Upper Midwest ACH Association
(UMACHA), is scheduled for Tuesday, April 8 on “Authorization
Requirements.”
This session will provide details on ACH authorizations including the
various types of authorizations (verbal, written or similarly
authenticated, or by notice) and who is responsible for the
authorization. The webinar series, produced and presented by the Upper
Midwest ACH Association (UMACHA), is designed to provide a basic to
intermediate education on ACH to merchant participants with a
concentration on specific aspects of ACH targeting merchant’s
needs.
“It’s very important
for merchants to have a better understanding of all of the payment
acceptance options that are available to their business and the
associated rules and regulations that govern each payment methodology,”
said Jeff Thorness, President and CEO of ACH Direct. “We’re
happy to be able to partner with UMACHA to offer this comprehensive
series free to anyone who wants to gain a better understanding of the
ACH Network.”
Participants must register in advance at www.achdirect.com. All
seminars will take place from 1 to 2:30 p.m. Central Time and include
time for questions and answers. Registered participants will dial into a
conference line for audio and log into an online session to view these
presentations.
The series will continue with the following webinar topics:
May 13, 2008 – Exception Processing
(Returns & NOCs) – This session
discusses the reasons ACH returns can happen, Notifications of Change, a
merchant’s responsibilities and timeframes.
June 10, 2008 – Unauthorized Entries and
Stop Payments – This session details why
and when an entry is returned as unauthorized (consumer and corporate
entries) and what the merchant’s role is as
an originator. It also includes information on handling stop payments.
July 8, 2008 – e-Check Conversion Products
– This session shows participants how a paper
check is converted to an ACH transaction, specifically ARC, POP and BOC;
authorization requirements, source documents and retention; and
Represented Check (RCK) entry requirements.
August 12, 2008 – WEB and TEL Entries –
This session discusses requirements for originators and companies for
WEB (Internet Initiated Entries) and TEL (Telephone Initiated Entries)
as well as authorization and authentication details for each application.
September 9, 2008 – ACH File Formats-
Record Information – In this session,
participants learn what happens to the originator’s
input and what it means to the receiving financial institution or
receiver (consumer/corporate customer). Details include: 1) What
entered information looks like; 2) Why the information is
necessary; and 3) What the data look like on the receiving side.
About ACH Direct, Inc.
ACH Direct is one of the largest and most innovative payment processors
in the United States, offering a comprehensive suite of payment
processing and risk management solutions for credit card, debit card and
e-Check (ACH) acceptance. ACH Direct's customers benefit from a complete
solution for payment acceptance via the Internet, over the phone, by
mail or in person. Dedicated to providing superior customer service and
industry-leading technology, ACH Direct provides tools to help
organizations of all types and sizes reduce costs, mitigate risk and
increase efficiencies. Additional information about ACH Direct can be
found at www.achdirect.com.
About UMACHA
Financial institutions and corporate members across the Midwest choose
UMACHA as a key resource to enhance their understanding of electronic
payments. Its mission is to support its members and other
stakeholders in payment system participation through education and
training, marketing and operational support, information dissemination
and consulting, with a particular emphasis on the ACH network.
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