Nacha, the national association that manages the U.S. ACH network, will launch the Payment Information Exchange Platform, or Phixius, in October. George Throckmorton of Nacha says the new platform is needed because data exchange for payments has been a manual process, which can result in misdirected payments and fraud opportunities. He says the platform is not an additional means of money transfer, but it’s not a rail to move money on. Its not moving money; it’s. But it does enable that secure payment information exchange.”]
Source: https://www.cuinfosecurity.com/new-platform-designed-for-secure-payment-data-exchange-a-15089