Michael Bellacosa, managing director and head of Global Payments for BNY Mellon's Treasury Services business, has been elected to the Board of NACHA — The Electronic Payments Association. Beginning a three-year term as a NACHA director in January, 2016, Bellacosa will join 18 other industry leaders in providing guidance and addressing issues of strategic importance to the ACH Network and the national association.
Involved throughout his more than 29 years with the company in BNY Mellon's banking and cash management offerings, including deposit and payment service product, project and operations management, Mr. Bellacosa is responsible in his current role as head of the company's Global Payments Product Group for managing strategy, financial performance, product development and industry issues for USD, EUR, and GBP direct clearing services, multicurrency wire transfers, correspondent banking, U.S. and international ACH, and network management. Active in SWIFT and a frequent speaker at Sibos, he is also a member of EPN and the CHIPS Business Committees.
“NACHA plays a key role in keeping ACH payments ahead of changing client expectations and preferences in the electronic payments space," said Ian Stewart, executive vice president and chief executive officer of BNY Mellon's Treasury Services business. "Given the breadth of his experience and expertise across all major global payment channels, Mike is superbly credentialed to help lead NACHA as it continues to adapt ACH payments to the evolving global payments landscape."
Since 1974, NACHA – The Electronic Payments Association has served as trustee of the ACH Network, managing the development, administration and rules for a payment network that universally connects all 12,000 financial institutions in the U.S. Moving money and information directly from one bank account to another, the ACH Network supports more than 90 percent of the total value of all electronic payments in the U.S. Through its collaborative, self-governing model, education, and inclusive engagement of ACH Network participants, NACHA facilitates the expansion and diversification of electronic payments, supporting Direct Deposit and Direct Payment via ACH transactions, including ACH credit and debit payments, recurring and one-time payments; government, consumer and business transactions; international payments, and payments plus payment-related information. More information on NACHA is available at www.nacha.org.
With locations on six continents and an extensive global network of correspondent financial institutions, BNY Mellon's Treasury Services group delivers high-quality performance in global payments, trade services and cash management. It helps clients optimize cash flow, manage liquidity and make payments more efficiently around the world in more than 100 countries. Processing payment transactions in over 120 currencies, the company is a top-five participant in both the CHIPS and overall funds transfer markets. The company is also a recognized leader in the delivery of private-label treasury services solutions for banks and other large institutional clients.
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