Nacha partners Phixius and Aliaswire

Tuesday 7 June 2022 13:16 CET | News

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.

Phixius by Nacha is a peer-to-peer network for the exchange and verification of payment-related information. The partnership will allow lower volume ACH users to utilize Phixius as an option to verify the routing and account numbers for ACH payments.

Interested organizations should complete the Phixius Interest Form. Phixius is expecting to facilitate more than 1 million validations this year, adding to the overall ACH Network quality.

Earlier this year, Nacha's WEB Debit Account Validation Rule became enforceable. The rule requires that the first use of an account number, or account number changes, be validated as part of a commercially reasonable fraudulent transaction detection system.

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Keywords: partnership, ACH, P2P, regulation
Categories: Banking & Fintech
Companies: Aliaswire, Nacha
Countries: United States
This article is part of category

Banking & Fintech




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