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Securing Faster Payments: Modernizing Account Validation

Payments Dive

In 2018 alone, ACH network volume reached nearly 23 billion payments –70 payments per person in the U.S. In the 12 months ending February 2019, payment volume across the ACH network increased 7.2%, reaching over 100 million ACH payments per banking day, a first for the ACH network.

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Important NACHA Changes: Account Validation

Payment Savvy

This network allows transfers from and to different banks for the payment of goods and services. NACHA’s recent figures revealed that in 2018, U.S This accounts for close to 82% of all U.S NACHA worries this high volume of transactions on the ACH network opens the way for fraud. Account Validation Approaches.