FICO

JUNE 26, 2018

In the past year, three major economies — the Eurozone, the USA and Australia — have gone live with real-time payments schemes, Canada will follow in 2019 and many other countries are on the road to implementing real-time schemes. When this kind of fraud takes advantage of an instant and irrevocable payment mechanism, losses will sky rocket.

Real Time Payments 63

Real Time Payments Instant Payments Irrevocable Payment Payments 63

PYMNTS

OCTOBER 30, 2019

As of late 2019, there are few people left who need to be talked into the “why” of instant payments — that case has already been well made. There’s financial risk, and making sure the payee who ends up in possession of the funds is the intended recipient. The payment is irrevocable, and can’t be clawed back.

Instant Payments 41

Instant Payments Payee Payments Risk 41

FICO

NOVEMBER 19, 2019

Banks have given customers the ability to make real-time, irrevocable payments but have not given them protection if something goes wrong. Currently there is a standoff — it even looks likely that there will be no funding for it from the end of 2019. So why can’t banks agree on how to fund this initiative?

Irrevocable Payment 40

Irrevocable Payment Irrevocability Faster Payments Payee 40

PYMNTS

JANUARY 3, 2020

That number is even higher (nearly 62 percent) when counting people who received an instant disbursement, like ACH , from government or other sources in 2019. These include advanced data security and new state and federal regulations governing payout mechanisms – to say nothing of the irrevocable nature of instant payments.

Instant Payments 60

Instant Payments Payments Ubiquitous Push-to-Card 60

FICO

NOVEMBER 7, 2022

Tue, 07/02/2019 - 02:45. Scammers have identified that the immediate and irrevocable nature of payments through the P2P apps means that if a consumer can be tricked in payment, they can’t claw it back. FICO Admin. by TJ Horan. expand_less Back To Top. Mon, 11/07/2022 - 09:50.

Scams 52

Scams Authorization P2P Zelle 52