Phixius and Kinexys Liink Partner to Enhance Account Validation Coverage

Phixius by Nacha and Kinexys Liink established information exchanges between their payment information networks.

The collaboration will enhance account validation coverage for financial institutions, FinTechs and corporations, the companies said in a Friday (April 25) press release.

Phixius, which is a peer-to-peer payment information network, will serve as Kinexys Liink’s key U.S. payment information network responder, enabling near real-time validation of domestic bank account data, according to the release.

Kinexys Liink, which is a bank-led peer-to-peer data-sharing network and part of Kinexys by J.P. Morgan, will allow Phixius participants access to its Confirm application’s global account validation capabilities, expanding the reach of the Phixius network, per the release.

“Kinexys Liink and Phixius customers can benefit by validation services using data provided by either network, helping to mitigate payment fraud and reduce potential ACH returns,” Rob Unger, managing director of ACH Network development at Nacha, said in the release.

Gloria Wan, general manager of Kinexys Liink at Kinexys by J.P. Morgan, said in the release: “Through the collaboration with Phixius by Nacha, we look forward to expanding the reach of Kinexys Liink to further strengthen account validation and cross-border payment infrastructure globally.”

Phixius officially went live in November 2020, with Nacha saying it facilitates the trusted exchange of payment information and provides interoperability between various participants connecting to the platform, enabling better security in moving data as opposed to storing it in a central repository like the cloud.

Nacha governs the ACH Network and reported Wednesday (April 23) that in the first quarter, ACH payment value increased 6.6% to $22.1 trillion and Same Day ACH value increased 24.8% to $897 million.

J.P. Morgan Chase said April 14 that it introduced GBP-denominated Blockchain Deposit Accounts for its Kinexys Digital Payments (KDP) platform in London and that trading market infrastructure company LSEG was among the first to open an account.

Since its inception in 2019, the Kinexys platform has processed over $1.5 trillion in transaction volume, with average daily transactions exceeding $2 billion and registering 10 times year-over-year growth in payments. KDP also provides a Programmable Payments feature with an “if-this-then-that” interface, allowing corporate clients to automate treasury workflows and enhance liquidity management.