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.
“We are excited that Phixius is now live,” said George Throckmorton Nacha Managing Director and Executive Director of Afinis API Standards. “Working with early adopters during the development of the platform proved to be very beneficial. Having a deep understanding of specific data needs for service providers and the businesses they serve was important for the launch of Phixius, which is aimed at making business payments more efficient and secure.”
“Nacha’s holistic and in-depth understanding of businesses’ payment and data challenges led to the development of Phixius, which was created to improve interoperability, standardization and automation while reducing fraud,” said Jane Larimer, Nacha President and CEO. “We are excited to offer a utility such as Phixius to the payments industry.”
Phixius provides interoperability between vetted participants who connect directly to the platform in order to more securely exchange data rather than storing it in a central repository, such as in the cloud. Transactions occur via standardized open APIs developed by Afinis Interoperability Standards and ISO20022.