Nacha’s Phixius service announced today that financial institutions and service providers in the Phixius network have utilized the service more than 1 million times so far this year to verify payment-related data.

Today, Nacha announced a partnership with Phixius and Aliaswire that will enable financial institutions, fintechs and businesses that originate a small volume of ACH transactions to comply with Nacha’s WEB Debit Account Validation Rule.

As the date for enforcement draws near, some companies, payment fintechs and financial institutions are actively seeking solutions to comply with the Account Validation Rule. Phixius is one method to both adhere to the Nacha Account Validation Rule and provide a safe and secure way to verify and validate ACH account information. 

Nacha’s Phixius platform announced interested parties can participate in its Account Ownership Verification Application, which will be available in the first quarter of this year.

Aliaswire, a provider of digital payment and credit solutions for businesses and financial institutions, and Nacha today announced that Aliaswire will join the Phixius Peer-to-Peer Network for the exchange of payment-related data. 

When it comes to B2B, sometimes processing payments can be a job in and of itself. 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.

Nacha announces Phixius, a platform that facilitates the trusted exchange of payment-related information, has onboarded three participants so far in 2021.

Today Nacha announces 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.