The National Automated Clearing House Association has formed an Internet Task Force that will study potential uses of the public network.
Nacha is the rulemaking trade association for the automated clearing house network. The task force will look at ways the Internet can be used to enhance bank-offered services, or to distribute information to association members and other ACH users.
Nacha, based in Herndon, Va., also will study whether the Internet could weaken the banking industry's control of payment system.
The task force is scheduled to have its first meeting later week. The group plans to draft a white paper of its findings next month.
"The Internet will play a major role in banking in both national and international commerce," said Elias J. Eliopoulos, an executive vice president with First National Bank of Omaha.
Mr. Eliopoulos, who will be chairman of the 25-member task force, said the goal is to "sort out the opportunities and challenges," and will include a study of risk and fraud related issues.