Payment Savvy

AUGUST 4, 2020

As such, they are pushing for more robust controls against fraud, and one of them is this new rule that requires account validation. Also, as part of the validation process, merchants must ensure any bank account submitted for an ACH transaction is valid. Account Validation Approaches.

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PYMNTS

MAY 2, 2019

The Association named MicroBilt for the accuracy and timeliness of its account verification capabilities, it said. “Account validation is an important tool for businesses that originate ACH transactions,” said NACHA Chief Operating Officer Jane Larimer in a statement. “With a database of more than 1.5

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NACHA Verification Accounts Account Validation 49

FICO

JULY 28, 2021

In response to a rise in fraudulent activity targeting ACH and other electronic transactions, the WEB Debit Account Validation Rule was put into effect by NACHA on March 19, 2021. The supplemental requirement applies to the first use of an account number or changes to the account number. Source: NACHA. Here’s why.

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NACHA ACH Scams Account Validation 52

Basis Theory

FEBRUARY 25, 2025

Because of this, masked data can be used for thingslike sales demos, user training, account validation, and software testingwithout increasing a companys risk footprint, as plaintext data does. Masked values retain usability and functionality, while enhancing privacy and confidentiality.

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Encryption Origination CCPA Returns 100