2008 Irrevocability Irrevocable Payment 
FICO
MARCH 26, 2018
For example, ACH payments in the USA are cleared three times per day and card payments can take weeks for settlement to the merchant. The new real-time payment schemes, whether used directly or as the rails for e-wallets and person-to-person payments, are cleared instantly and are irrevocable.
FICO
JUNE 26, 2018
Real-time payments schemes are not new – indeed Japan has had a scheme since 1973, Switzerland was the first European scheme in 1987, and the UK’s Faster Payment scheme was launched in 2008 and is currently processing payments of around £140 billion per month. Who Is Liable? In September 2016, the UK consumer group Which?
Expert insights. Personalized for you.
88 
Let's personalize your content