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

The Payments Association

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. This leads to the necessity for online verifications, and the challenges thereof, which the report summarises well.”

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Eastnets Partners With iPiD to Reinforce Protection Against Financial Fraud

Fintech Finance

Eastnets, a global leader in compliance and payment solutions, has announced a strategic partnership with iPiD , a leading provider of beneficiary name and bank account verification services. Instant payments – which are irrevocable – demand enhanced verification processes to protect against fraud.

Payee 52
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Deep Dive: Billing And The Use Of Real-Time Payments

PYMNTS

BD provides payers with information like amounts, due dates and posting dates, but not about payers’ linked bank accounts. That can lead to identity verification problems, resulting in returned or delayed transfers. RTP notifications are typically sent to payers through third-party providers using APIs in banks’ mobile apps.