HERNDON, Va. - Nacha, the electronic payments association, has extended a pilot program under which a creditor can telephone consumers to get oral authorization for one-time-payment electronic debits.The test, which started in mid-1999, was to have ended in March but has now been extended to Sept. 14. Twenty-five banks are involved.

Debtors had been getting such authorization before the test started, but Nacha decided it needed to develop standards for the practice.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.