Nacha announces first live transactions on the Phixius platform

Wednesday 11 November 2020 12:20 CET | News

Nacha has announced that Phixius, a new platform that facilitates the trusted exchange of payment information, is live and has completed its first information exchange transactions between participants.  

Phixius provides interoperability between vetted participants who connect directly to the platform in order to more securely exchange data rather than storing it in a central repository, such as in the cloud. Transactions occur via standardised open APIs developed by Afinis Interoperability Standards and ISO20022.

Phixius, developed and operated by Nacha, is a platform that uses technology, standardised APIs and rules to enable interoperability for the secure exchange of payment-related information within a trusted network of connected credentialed service providers (CSPs). CSPs connect to Phixius to improve automation and reduce payments fraud in areas such as onboarding customer information, invoice requirements, payor authorisation and enhancing services for their customers. 

Nacha is a nonprofit organisation that convenes hundreds of diverse organisations to enhance and enable ACH payments and financial data exchange within the US and across geographies. Through the development of rules, standards, governance, education, advocacy, and in support of innovation, Nacha’s efforts benefit all stakeholders. Nacha is the steward of the ACH Network, a payment system that universally connects all US bank accounts and facilitates the movement of money and information. Nacha also leads groups focused on API standardisation and B2B payment enablement. 

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Keywords: Nacha, transactions , Phixius, APIs, standardisation, payments
Categories: Banking & Fintech
Countries: United States
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Banking & Fintech

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