Remove Fraud Detection Remove Irrevocability Remove Payer
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Offline settlements with a digital pound: Lessons from the BoE’s report

The Payments Association

The findings show that it’s technically possible, but with significant challenges surrounding fraud detection, data sharing, and usability. These are linked to the requirement for instant offline settlement, i.e. digital money leaves the payer device to go into the payee’s device.

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Mastercard: Collaboration Is Key To Scaling Real-Time Payments

PYMNTS

With speed being the most obvious value proposition of real-time payments capabilities, it’s not difficult to imagine that corporate payers would be eager to embrace faster payments functionality in their accounts payable (AP) departments. “There is less time to apply traditional fraud techniques,” said Shultz.

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What Is FedNow & How Can Businesses Prepare for It?

Seon

FedNow works by offering banks, credit unions, and other organizations such as retailers a system where they can utilize instant payment services that go through this core process: The payer (e.g. The payer approves, then their credit union screens the payment and sends a payment message through the FedLine network.