Nacha Acquires BPDA To Promote B2B Payments Based On Blockchain

Nacha, previously known as the National Automated Clearinghouse Association, is a non-profit membership association charged with overseeing the Automated Clearing House (ACH) system, which operates one of the largest, safest and most reliable payment systems in the world, acquired the Business Payments Directory Association (BPDA) as it seeks to promote the development and deployment of the B2B payments and money transfer directory.

As part of the deal, BPDA will become an independent, self-governing group under the Nacha organization.

In August, BPDA teamed up with Discover Financial Services on the proof-of-concept platform for the B2B directory built on blockchain technology.

The directory will be structured as a network of “subdirectories” of the service provider where the verified recipient data will be stored.

The platform will use open source technologies, blockchain and standardized APIs developed by Afinis compatibility standards.

Nacha says that by taking BPDA under its wing, it will be able to use its industrial weight to promote PoC and ensure fast delivery to the industry.