Leveraging Payment Information Networks to Reduce Payment Risk and Costs

Accurate and current payment information is vital to enhance certainty of payment routing, and to reduce associated risk.  However, the US has a complex, patchworked landscape for obtaining and verifying payment-related information, compared to jurisdictions that have mandated open banking.  Speakers will present a case study on how they are addressing US gaps by leveraging Phixius by Nacha, a peer-to-peer payment information network, for verifying bank information to mitigate risk, reduce costs and meet compliance requirements. Attendees will learn about account validation best practices to drive payment efficiencies and reduce ACH returns. Panelists will also discuss further opportunities to share ACH return information to provide greater visibility into accounts.