Payment Savvy

AUGUST 4, 2020

Starting March 19, 2021, the National Automated Clearing House Association (NACHA) will require businesses to perform online verification of bank accounts before they accept or process ACH payments. This accounts for close to 82% of all U.S Account Validation Approaches. Understanding the New Requirements.

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Account Validation NACHA Accounts ACH 52

PYMNTS

SEPTEMBER 15, 2020

To that end, in an interview with PYMNTS, Kimber Johnson , executive vice president of strategic alliances at GIACT , said account validation is of increasing importance in an age where commerce is speeding up, and increasingly, moving online. The old saying goes: Faster payments, faster fraud.

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NACHA Verification Accounts Account Validation 69

FICO

JULY 28, 2021

increase in volume and a 10.8% In response to a rise in fraudulent activity targeting ACH and other electronic transactions, the WEB Debit Account Validation Rule was put into effect by NACHA on March 19, 2021. The supplemental requirement applies to the first use of an account number or changes to the account number.

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NACHA ACH Scams Account Validation 52

PYMNTS

MARCH 27, 2020

The volume of activity, he said, is akin to Black Friday and the holiday shopping season all at once. There’s a lot of good traffic,” said Barnhardt, “and this is unbelievable volume. As Barnhardt noted, as transaction volumes spike, so does fraud.

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Account Takeovers Due Diligence Accounts Email Compromise 55