Remove Good Funds Remove Irrevocability Remove Use Case
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The Big Tech Canary In The Faster Payments Coal Mine

PYMNTS

on board because it offered a solution for use cases where same-day was essential. It isn’t real-time, but it seems good enough for a lot of use cases. A payment is the embodiment of good funds to an authenticated buyer and supplier, along with the detailed data that travels with it.

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Bridging The Gap Between Appearance And Reality Of Instant Payments

PYMNTS

That’s particularly true when funds are truly instant — meaning they are irrevocable. As Edwards noted, although having a real-time infrastructure would make the clearing and settlement process more efficient, payors and the channels that serve them don’t have to wait to move funds in real time to a payee.