Blackboard's payments platform, Cashnet, recently won the 2018 Innovation and Excellence Award sponsored by the New England Automated Clearing House (NEACH). The NEACH 2018 Innovation and Excellence Awards showcase outstanding payments products and services to the financial industry and beyond.

The NEACH Awards recognize individuals and organizations that bring new, innovative products and services to market. The Innovation and Excellence Award winner demonstrates proficiency in six categories:

• Advancement: Leading the industry in the implementation of innovative payments solutions
• Efficiency: Improving the effectiveness of electronic payments
• Faster Payments: Introducing solutions that accelerate the speed of payments
• Innovation: Implementing new technologies or progressive practices to move the industry forward
• Leadership: Recognizing the significant and positive impact on advancing payments
• Security: Demonstrating exceptional strides in payments system security

Cashnet now provides secure transaction services to over 700 higher education campuses, serving some 5 million students nationwide. Cashnet's range of services rests on a PCI-compliant platform that's tailored specifically to higher education environments.

The platform enables campuses to accept the full range of payment methods -- credit/debit cards, ACH, 529 plans, and international payment methods -- and students can securely make payments over the web using a single sign-on. Cashnet also offers flexible tuition payment plan options to help students manage the growing costs of higher education.

“We are thrilled to highlight these examples of extraordinary effort, purpose, and commitment to our industry,” says Sean Carter, NEACH President. “Blackboard’s work is helping to transform payments by providing the tools to make our customers’ financial lives easier, faster, and more secure.”

“Blackboard is very proud to receive this award for our Cashnet product. We thank NEACH for their recognition of our work in making payments easy and accessible for all,” says David Marr, President of Blackboard Transact. “For over 25 years, Cashnet has constantly evolved to create the secure and simplified payments experience that colleges and universities require. We look forward to continuing to work with institutions nationwide to help them simplify electronic payments all over campus.”

The New England Automated Clearing House (NEACH) is a non-profit association that helps its members originate and receive ACH transactions, as well as provide products, services, education, and marketing to increase the acceptance, use and quality of electronic transactions.