Afinis has been evolving its Account Validation API for some time. For example, organisations participating in Phixius, Nacha's peer-to-peer payment information network, implemented the first version of the API Standard in 2020.
The second API standard, Authorise to Initiate Payment, supports B2B debits, which commonly require payors to visit multiple payee portals and manage different processes. The Afinis API standard allows payors and payees to instantly agree on the terms of each payment and receive real-time confirmation. The API also provides a real-time ACH debit authorisation, as well as a virtual card number authorisation – making it easier for payors to use both payment options and receivers to enable straight-through processed payments.
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