Remove Fraud Prevention Remove Irrevocability Remove Transaction Limits
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FPC Draws Member Input with Town Halls on FedNowSM

Faster Payments Council

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. Our expansive, hour-long session resulted in a valuable back and forth, with many insightful questions and candid responses from the Fed.

FPC 68
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Deep Dive: How Gift Cards Become Grift Cards For QSRs

PYMNTS

This requires customers to ask employees before purchasing them, preventing outside attacks. Purchases could then be surveilled via cameras or a watchful store manager to prevent employee theft. QSRs can also lower the transaction limits for their gift cards, disincentivizing cybercriminals from targeting them.