Fintechs that operate in multiple channels expect the extended ACH guidelines and authorizations to drive ACH transaction growth. For example, Semafone provides payment solutions that protect personal data across phone, webchat, social media, email, SMS, QR codes and other emerging technologies.
Gary Barnett, chief executive officer at Semafone, called the Nacha rule amendment a pivotal advancement that addresses consumer demand for digital commerce. "The challenge is that consumers also expect security and a frictionless experience," he said. "Nacha's focus on meaningful modernization is ensuring the industry holds itself accountable to operate in these new channels while adhering to industry standards."