In 2018 alone, ACH network volume reached nearly 23 billion payments – approximately 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. Account validation capabilities have not kept pace with the growth of faster payments.
GIACT's report, "Securing Faster Payments", explores the strengths & weaknesses of the most commonly used Account Validation solutions available and makes recommendations for payment originators looking to bolster validation practices.
