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To that end, in an interview with PYMNTS, Kimber Johnson , executive vice president of strategic alliances at GIACT , said accountvalidation is of increasing importance in an age where commerce is speeding up, and increasingly, moving online. The old saying goes: Faster payments, faster fraud.
The suggestion, then, was to use tokenization to ascertain accountvalidity and funds availability in consumers’ accounts, using API calls from the merchant. Brantner said her firm sought to eliminate some of the risks for the merchant, while also maintaining an easy payment method for the consumer.
With Orums Monitor, payment operation teams are able to leverage Orums money movement solution, Deliver, and bank account verification solution, Verify. RTP, FedNow, SameDayACH, ACH, wire, etc.)
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