June 04, 2021

Phixius: Moving the Exchange of Payments Information to the Next Level


Jane Larimer

Jane Larimer

President and CEO


When it comes to B2B, sometimes processing payments can be a job in and of itself. Payment information is missing or incorrect; there’s a lopsided reliance on doing things manually rather than through automation; and there’s a lack of industry standardization. In short, moving the money isn’t complicated, but what’s involved before and after a payment is.

Those are among the reasons why Nacha created Phixius.

Built on blockchain technology and designed for interoperability, Phixius helps businesses safely share crucial information about payments that both senders and receivers rely on.

Participants connected directly to the Phixius platform are called Credentialed Service Providers (CSPs). CSPs provide data services to their customers by leveraging Phixius technology and rules to securely and efficiently exchange payment-related information via open API standards.

All CSPs are vetted, and each connects to Phixius directly to exchange information with one another. Nothing is stored in or accessed from the cloud because Phixius does not require the centralization of data, and as a result reduces risk and ensures sensitive data is exchanged only between permissioned participants. CSPs can exchange or validate information with each other at the request and permission of customers. These data exchanges are point-to-point connections—at no time does Phixius or other participants have access to data transaction details.

That’s the technical aspect. The practical aspect is the ease this can bring to B2B payments. Collecting the necessary information from new buyers becomes automated and streamlined under Phixius. Buyer invoices and payments are matched automatically.

But it’s not always about a company needing information. Sometimes it wants to verify the data it has, to mitigate fraud and risk. Phixius helps accomplish that, too.

Even better is that Phixius isn’t just designed to tackle today’s payments issues. It’s built with tomorrow in mind, so that new use cases can be created, and solutions designed to meet them.

Nacha has long been a leader in the payments industry, and we are always looking for innovative solutions that will transform the process. In 2021, a better payments experience shouldn’t be a goal; it should be achievable. Phixius is a major step in that direction.

Learn More About Phixius