Letter to NACHA on Same Day ACH

On behalf of the Retail Industry Leaders Association (RILA), I am pleased to submit comments regarding NACHA’s Same Day ACH, Moving Payments Faster proposal. RILA members have an interest in payments issues, and in particular ACH transactions, for the transmittal of funds for Consumer-to-Business (C2B) and Business-to-Business (B2B) transactions. RILA also appreciated the opportunity to meet with NACHA staff on January 21, 2015, to learn more about NACHA’s Same Day ACH proposal. Retailers support greater competition in the payments market, which in turn helps to keep prices low and return value to our customers. We have long called for faster, cheaper payments and applaud NACHA for moving one step closer towards real-time payments. However, as detailed below, we have reservations about NACHA’s proposal, which in its current form, would provide little additional utility or value to the retail industry.