Phixius by Nacha broadens bank account validation reach with ValidiFI

Phixius offers access to various account validation providers, increasing the amount of account validation data available to its users.

Officials from Nacha stated that Phixius serves as the link to access various account validation service providers, filling the gaps in coverage for verifying US bank account information. By utilising multiple data sources, Phixius helps organisations combat payment fraud, decrease ACH returns, and increase the overall quality of ACH transactions.

Increasing user value with ValidiFI integration

With the new integration with ValidiFI, Phixius is elevating its value proposition for users to:

• Instantly validate bank account information within the US;

• Reduce payment risk when sending and receiving funds to new accounts;

• Ensure compliance with the Nacha Operating Rules & Guidelines, particularly for validating account information related to Internet-initiated ACH debits (WEB debits).

Phixius simplifies the validation process by:

• Granting users access to various data sources through a single, standardised API gateway;

• Allowing connectivity to multiple data sources without the need for centralised data aggregation;

• Upholding robust data security practices, supported by SOC 2 Type 2 certification for security, confidentiality, and privacy.

The partnership with Phixie and Aliaswire was announced by Nacha in June 2022. This partnership enabled entities that initiate a small volume of ACH transactions to adhere to Nacha's WEB Debit Account Validation Rule.

Phixius by Nacha served as a peer-to-peer network for the exchange and verification of payment-related information. Through this partnership, lower-volume ACH users had the opportunity to use Phixius to verify routing and account numbers for ACH payments.