Phixius by Nacha—a secure, peer-to-peer payment information network—announced that ValidiFI is live on the Phixius network as an additional provider of bank account validation. Phixius now offers multiple providers of account validation, expanding the coverage of account validation data for Phixius users.
“Phixius provides the connective tissue to reach multiple account validation service providers, addressing gaps in coverage for validating U.S. bank account information,” said Rob Unger, Managing Director of ACH Network Development at Nacha. “With multiple data sources, Phixius assists organizations in mitigating payment fraud, helping reduce ACH returns, and improving the quality of ACH transactions.”
“This partnership with Phixius enhances the distribution of ValidiFI’s account validation solutions,” said John Gordon, CEO of ValidiFI. “Our offerings provide extensive coverage of bank accounts, combined with intelligence to identify fraud and assess risk.”
With this new integration with ValidiFI, Phixius is enhancing its value proposition to users to:
- Validate bank account information in the United States instantaneously.
- Mitigate payment risk when sending and receiving payments to new accounts.
- Comply with the Nacha Operating Rules & Guidelines, including the requirement to validate account information for Internet-initiated ACH debits (WEB debits).
Phixius streamlines the validation process by:
- Allowing users to access multiple data sources through a single, standard API gateway.
- Enabling connectivity to multiple data sources without centralized data aggregation.
- Maintaining strong data security practices through SOC 2 Type 2 certification for security, confidentiality, and privacy.
