Remove Faster Payments Remove Fraud Prevention Remove Irrevocability
article thumbnail

FPC Draws Member Input with Town Halls on FedNowSM

Faster Payments Council

We want to make sure we're hearing from our diverse membership base and considering the various roles each of you plays in this faster payments ecosystem. We were able to point out that our Regulatory, Directories, and Fraud Work Groups will be tackling these and other relevant topics in their upcoming work efforts.

FPC 68
article thumbnail

Instant Payments Mean Real-Time Payments Fraud

FICO

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. This raises the prospect of increased real-time payments fraud against businesses.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

It Takes A Hub: Fighting eCommerce Fraudsters Across New Vectors

PYMNTS

Real-time payments, he said, “increase the attack surface” for fraudsters and are attractive for two reasons: speed and the fact that the payments are irrevocable. The combination of faster payments and more parties tied to a transaction heightens the fraud risk, introducing “gaps” where fraudsters can hide.

article thumbnail

To Stop Scams, It’s Time to Add Sensible Friction to Easy Money

FICO

Now, I can practically send, transfer, or pay by accident by simply looking at my smartphone, which can make fraud prevention a real challenge. It’s about time we add some sensible friction to the real-time payment process as we race hellbent-for-leather down the digital freeway. Is Sending Money Too Simple?

Scams 52