May 21, 2015


  • Sadly NACHA had to get to a point of one day becoming irrelevant in payments before they actually accelerated innovation? This is the problem with large Incumbents being innovators or self disruptors? With out outside forces acting on them they will not move. They could have taken a lead in payments 3 years ago and offered merchants & consumers a lower cost program with benefits & are now lost in the clutter of other options.
  • Thank you for your observation. That viewpoint was shared by several other people, including our own vice president of research at Callahan, Chris Howard. Chris says the NACHA move is good news for retail financial institutions, because it's a substantive response to non-bank disrupters. But it’s moving too slow. He says, "Both timeframe and structure of implementation strike me as boomer/mainframe speed, not millennial/Internet, and disruption and innovation will continue at an accelerating pace in the meantime."
    Marc Rapport