Nacha, the operator of the ACH network, has partnered with ValidiFI to enhance account validation on its Phixius payments platform. This collaboration, announced on April 27, aims to expand the coverage of account validation data for Phixius users. Rob Unger, managing director of ACH network development at Nacha, stated that Phixius provides a connection to multiple account validation service providers, addressing gaps in validating U.S. bank account information. The integration allows Phixius users to validate bank account details instantly, reducing payment fraud and improving ACH transaction quality. Phixius streamlines data validation by enabling users to access multiple data sources through a single API gateway, maintaining strong data security practices certified by SOC 2 Type 2. John Gordon, CEO of ValidiFI, noted that this partnership enhances the distribution of ValidiFI’s account validation solutions, offering extensive coverage and fraud detection capabilities. This announcement follows a recent partnership between Phixius and Kinexys Liink, owned by JPMorgan Chase, to exchange information between their payment networks, further mitigating payment fraud. — new from PYMNTS.com
