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Nacha has announced that Phixius, which facilitates the trusted exchange of payment information, has officially gone live, according to a press release. The release says Phixius has also officially completed its first information exchange transaction between two parties.
Visa has become a part of the ranks of companies experimenting with Phixius, a technology that assists credentialed service providers in exchanging and supervising digital payments data, NACHA said in a Wednesday (Aug. However, Phixius makes these deals less necessary as it offers interoperability. 12) announcement.
Phixius by Nacha Partners with ValidiFI to Enhance Account Validation Coverage droth@nacha.org Tue, 05/07/2024 - 07:00 Image Media Phixius logo with Background
Phixius by Nacha —a trusted, secure, peer-to-peer payment information network—announced today its partnership with ValidiFI , a leading provider of predictive bank account and payment intelligence. This collaboration will expand on Phixius’ current account validation coverage, leading to fewer returns and improving ACH payment quality.
ACH network steward Nacha says Visa has been added to its list of partners for a payment information exchange it is creating to help credentialed service providers share and manage electronic payments information for faster and more secure processing.
Phixius by Nacha—a trusted, secure, peer-to-peer payment information network—announced today its partnership with ValidiFI, a leading provider of predictive bank account and payment intelligence.
Phixius by Nacha has successfully validated information for more than 4 million accounts since its first validation in March 2021. This accomplishment highlights its pivotal role helping customers of all sizes with Nacha rule compliance, as well as risk management.
Visa has joined the pilot Phixius program operated by NACHA, the companies recently revealed. Phixius is a payment data exchange platform aimed at providing service providers with the ability to manage transaction data pre- and post-payment with a focus on efficiency and security. Visa Joins NACHA Pilot.
US’ Nacha announced a partnership with Phixius and Aliaswire that will allow entities that originate a small volume of ACH transactions to comply with Nacha's WEB Debit Account Validation Rule.
The NACHA Phixius platform enables connected service providers to securely exchange payment-related data. He added that “Phixius changes all of that” by using congruent regulations and “leveraging blockchain technology.”. NACHA also announced that Ernst & Young (EY) will assist in the development of Phixius. “EY
Along those lines, the B2B API Tracker® details the new effort by the National Automated Clearing House Association (NACHA) to create its new Phixius payments data-sharing platform. Instant money only truly works over the long term with prevention methods that actually prevent theft – not find it after the fact. Keeping Eyes on Your APIs .
Dubbed Phixius, the platform targets the friction associated with the current reliance on proprietary bilateral data sharing agreements that limits broader efficiency. Nacha also pointed to the challenges of manual management, misdirected payments, errors and fraud risks.
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