Nacha recently announced it is developing Phixius, an online platform that integrates technology, rules and participants to exchange payment-related information across all payment types.
This new platform was featured in the Nilson Report, which covers the global card and mobile payment industry. The article noted:
“Phixius is a blockchain-supported data-sharing platform that Nacha will offer in the U.S. to supply bank routing information, payment preferences, invoice-related data elements, and more to facilitate straight-through processing of accounts payables.”
Nacha Managing Director George Throckmorton, who is leading Phixius, has previously said, “Traditionally, the exchange of payment-related information has consisted of multiple bilateral agreements. Unfortunately, that limits broader industry adoption and fails to address today’s interoperability expectations. Phixius changes all of that.”
By using blockchain, Afinis interoperable and standardized APIs, and ISO 20022, Phixius will provide the necessary features and functionality to safely and securely facilitate payment information exchange among all participants.