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Creating A Smooth Transaction
The National Automated Clearing House Association, or NACHA, is perhaps best known as the governing body of the automated clearing house, or
ACH, electronic payment system. But the 31-member Herndon, Va.-based group also sponsors a number of initiatives aimed at making money
movement across various electronic channels more efficient and safer.
Chip Cards Power Navy Payment System
The U.S. Navy's installation of a new payment system that does away with the need to store cash aboard ships is a breakthrough in the
military's battle to control spending. Called Navy Cash and engineered by J.P. Morgan Chase, the system features a dual mag stripe/stored value
card that enables shipboard purchases to be made with electronic cash, eliminating the need to store and count cash.
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