BURLINGTON, Mass., Dec. 08, 2021 (GLOBE NEWSWIRE) — Aliaswire President Scott Goldthwaite will be a featured presenter at this week’s Future of Payments Symposium being hosted by the New England Automated Clearing House (NEACH) Association. Goldthwaite will be discussing the NACHA Web Debit Account Validation requirements put in place in 2021 and what they mean to payment originators.
The 2021 Future of Payments Symposium takes place virtually December 8-9 and is open to all payments professionals. The agenda will offer industry insights, discussions between financial institutions and FinTechs, and panels and lectures on what’s next for the payments industry.
Session Details:
New Requirements for Modern Account Validation and Its Impact on Payment Originators
Scott Goldthwaite, President, Aliaswire, Inc.
Dec. 8th, 1:40 pm ET
Nearly 27 billion payment transactions ran on ACH rails in 2020, and almost 30 billion are expected in 2021. This dramatic growth is a result of the reliability of ACH and the transformation to digital payments. But as ACH volume continues to grow, so does the risk of fraud. In order to address this issue, NACHA created the WEB Debit Account Validation Rule. In addition to reducing risk and fraud, these additional requirements reduce drop-offs and lost payers, as well as drive cost efficiencies. However, they can also add to the time required to validate accounts, slowing down payments at a time when they need to be faster.
In this discussion Goldthwaite will detail the specific account validation requirements involved and the options available to payment originators to meet them. He’ll also share how validation processes can be enhanced without slowing the flow of funds.
About Aliaswire, Inc.
Aliaswire is a fintech company based in Boston with a history of innovation in payments. The company supports leading financial institutions and merchant services providers with bill pay through DirectBiller® and small business credit solutions through PayVus®. For more information, visit https://www.aliaswire.com/.