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Payments Help Desk

The Elevation Blog

Robert Unger

Robert Unger
Robert Unger, AAP, is the Senior Director, Product Management and Corporate Relations with NACHA – The Electronic Payments Association. In the product role, Mr. Unger is responsible for Automated Clearing House (ACH) initiatives focused on B2B payments and ISO 20022 support, as well as consumer bill payment. He also leads NACHA’s corporate relations initiative. The purpose is to develop greater awareness of the ACH Network and NACHA in the business community, and to consult with companies on ACH Network usage.

Recent Posts

Elevation Guides Non-Proft Startup, Change the World Fund, Through the Payments Industry

Posted by Robert Unger on Oct 4, 2017 9:45:42 AM

 

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Understanding and Tracking Card Payment Acceptance Costs

Posted by Robert Unger on Aug 23, 2017 6:55:57 PM

Credit and debit card payments are surging.  The “2016 Federal Reserve Payments Study,” which has been tracking longitudinal trends in consumer and business payments, cites that: 

Payments made with general-purpose credit cards and with non-prepaid debit cards each grew faster than other payment types from 2012 to 2015, in terms of both percentage growth and growth by number.

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Topics: Payments Consulting, Receivables, Payments, payment costs, cash flow, Webinar, Electronic Payments, credit card cost, credit card cost analysis, credit card

Faster Cash Flow and Lower Payment Costs with Same Day ACH

Posted by Robert Unger on Aug 3, 2017 11:54:56 AM

“Cash is king” and Same Day ACH supports the crown!

Cash flow is the lifeblood of companies, and faster closure of accounts receivables ensures smoother operations, particularly with respect to purchases, payroll, investments, debit reduction and any other functions requiring payment.  Cash flow forecasting is one of the key metrics for most treasury departments and one of the most challenging to get right consistently. 

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Topics: ACH, Automated Clearing House, Receivables, ACH Transfer, ACH Network, Payments, Faster Payments, payables, payment costs, Same Day ACH, Treasury, cash flow

Yes, Virginia, There Is International ACH

Posted by Robert Unger on Jul 27, 2017 8:30:24 AM

(With apologies to the famous newsman Francis Pharcellus Church and his column on Santa Claus, which appeared in New York’s “Sun” newspaper Sept. 21, 1897).

DEAR EDITOR: I am 38 years old.  Some of my accounts payable and receivable friends say there is no such thing as International ACH, and that I have to make and receive international payments by check, wire or correspondent banking.  A colleague says, ‘If you see it in The Payments Help Desk blog it’s so.’  Please tell me the truth; does International ACH exist?

Sincerely,
Virginia (the sender and receiver of international payments in my company) 

VIRGINIA, your accounts payable friends are wrong – there is International ACH!  But you’re not alone in thinking otherwise; lots of folks aren’t aware that International ACH is a payment option, and that it’s really easy to send an International ACH payment.

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Topics: ACH, Automated Clearing House, Receivables, ACH Transfer, ACH Network, Payments, International Transfers, Cross Border Payments, International Payments

5 Reasons Why It’s Crazy for Businesses to Write Checks

Posted by Robert Unger on Jul 20, 2017 11:21:20 AM

Remember the Saturday morning “Jetsons” cartoon when George Jetson took his dog Astro out for a walk on the space treadmill?  Yikes!  He got sucked up into a never-ending, out-of-control spin cycle, screaming “Jane, stop this crazy thing!” 

Similarly, many businesses are stuck on the check-writing treadmill, and the spin cycle is cranking out an unfathomable 20 million commercial checks each day.  

Jane, stop this crazy check thing!  Here’s 5 reasons why it’s crazy for businesses to write checks.

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Topics: ACH, Automated Clearing House, Receivables, Business, Fraud, Debit Payments, ACH Debit, Payer, Payee, Checks, Managing Cash, B2B

Unlike Algebra, Businesses Need to Know About ACH Payments: Free Webinar Recording

Posted by Robert Unger on Jul 13, 2017 9:34:14 AM

If you’ve experienced the “joy” of having teenagers matriculating through middle and high school, you’ve no doubt heard the question, “Why do I have to take Algebra?”  

I know with each darling little one of mine, I tried to articulate the importance of problem solving, mastering methodology, applying logic to formulas, etc.  But, I gotta admit, I’ve never encountered a need to solve a quadratic equation post algebra class, and I still went to college, got jobs, married and am enjoying an Algebra-free life. Of course I couldn’t tell my kids that.  Better that they suffered through it like I did!  

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Topics: ACH, Automated Clearing House, Receivables, Business, Webinar, B2B

5 Ways to Drive Customers to Pay You via ACH

Posted by Robert Unger on Jun 13, 2017 9:31:52 PM

You want more ACH payments from your customers because ACH: 

  • Costs less;
  • Requires less labor to process than checks and you can’t increase hires (or have to decrease head count);
  • Improves cash flow and DSO (days sales outstanding);
  • Provides customer convenience with an option for credit (i.e. “push”) and/or debit (i.e. “pull) payments;
  • Reduces fraud exposure;
  • Carries a boatload of remittance details for easier cash application, particularly for B2B payments.
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Topics: ACH, Faster Payments, Webinar, ACH Payments, B2B

B2B ACH Credits to Surpass Checks by 2020 - New Survey

Posted by Robert Unger on Jun 13, 2017 7:04:17 PM

NACHA and the Credit Research Foundation recently conducted a study of payments trends, preferences, and perceptions of electronic payments by credit and receivables professionals. NACHA's Rob Unger sat down with Matt Skudera, VP of Education and Research for the Foundation, to get his views on some of the most interesting finds from the survey.  You'll be surprised! Learn more by listening to the recording of the Webinar covering the same topic.

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Topics: ACH, Receivables, cash flow, Credit Research Foundation, Checks, B2B, Electronic Payments

Call it EFT or ACH or EDI – But They’re Different and It Matters

Posted by Robert Unger on May 22, 2017 7:23:03 PM

What is the difference between EFT, ACH and EDI? 

We here at NACHA-The Electronic Payments Association often get asked this question from business financial teams - even from seasoned financial pros.

The quick answer is that all ACH (Automated Clearing House) payments are EFTs (Electronic Funds Transfers), but not all EFT payments are ACH.  And EDI (Electronic Data Interchange) is not a payment.

 

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Topics: EFT, Electronic Funds Transfer, ACH, Automated Clearing House, Business, EDI, Regulation E, Electronic Data Interchange, Financial Professionals

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