PYMNTS

OCTOBER 8, 2020

Ingo Money CEO Drew Edwards told Karen Webster that instant payments pose just such an attraction to fraudsters who hope to not only exploit security holes to get paid, but to get paid faster than ever before. . “I I think fraud will go up as awareness goes up,” he said.

Instant Payments

PYMNTS

NOVEMBER 6, 2018

The standards put forth by the PCI Security Standards Council – the PCI Data Security Standards – offer a framework for ensuring data security, and they must be followed in order to avoid fines and other penalties. PCI compliance is vitally important for businesses that process credit cards. Gearing up for GDPR.

PCI DSS

PYMNTS

JUNE 25, 2019

As detailed in the release heralding the acquisition, Visa said the combination of its extant tokenization offerings with the local and account tokenization enabled by Rambus will help secure payments of all types done across the globe. However, down the road lies opportunity to intersect with respect to Secure Remote Commerce (SRC).

Transactions

Finovate

APRIL 25, 2024

Trice Trice is a fast, secure platform for instant bank transfers, connecting directly to FedNow and RTP for real-time account-to-account transactions. Banks, credit unions, challenger banks, neobanks, etc.

Credit Union

Faster Payments Council

SEPTEMBER 12, 2022

The panel will discuss issues such as security, governance, and interoperability as well as concerns that the U.S. market needs to keep in mind when creating directories. In this session, FPC QR Code work group leaders address the call to action for payment industry standards needed for universal acceptance and interoperability of QR codes.

FPC

Fintech Finance

JUNE 10, 2024

This collaboration will enhance the security and efficiency of payments for banks, corporates, and other financial institutions, reinforcing the protection of their customers and suppliers against financial fraud globally. Instant payments – which are irrevocable – demand enhanced verification processes to protect against fraud.

Payee

PYMNTS

JUNE 18, 2020

The companies will tap into the collective capabilities of Visa’s real-time push payments technology and Visa Cloud Tokenization , a cutting-edge security capability launching alongside payments on WhatsApp. Visa worked with partners to make sure transactions are secure. Learn more: [link] pic.twitter.com/hlzkTJdOF9.

Digital Payments

PYMNTS

APRIL 2, 2019

RTP has showcased its ability to help customers pay providers for received services, but such systems offer more than immediate, final and irrevocable transactions. Few clients give out email addresses and phone numbers, too, which creates a tokenization barrier and prevents them from transacting more securely.

Real Time Payments

PYMNTS

DECEMBER 7, 2017

After all, FIs are the ones who have to integrate the solutions they choose, ensuring that they work — and work fast — and keep their customers’ financial data secure. And once the customer responds by sending the money, he added, there’s no taking it back — irrevocable payments are part of the value proposition.

Irrevocability

Faster Payments Council

SEPTEMBER 17, 2019

Fraud mitigation – Members can participate on Thursday, October 10 at 3 pm ET, to explore ways in which we can address the concerns around safety and security. The Town Hall made it clear that nationwide reach is a key objective for the Fed, with Kirstin dubbing it a measure of success for FedNow.

FPC

PYMNTS

APRIL 10, 2020

Banks must build an ecosystem that uses the consumer’s perspective as a starting point and leverages technology to establish security and deliver new services. This adds a level of security to everyday commerce, while personalizing the dialogue and boosting revenue streams through cross-pollination — and reducing costs, too.

Online and Mobile Banking

PYMNTS

SEPTEMBER 26, 2019

Consumers, businesses and governments are seeing faster payments as a path to greater convenience and financial security, and this growing demand is spurring payments services providers (PSPs) to meet this need in a swift, secure manner. Instant payment systems, such as TCH’s RTP and the U.K.’s

Payer

PYMNTS

JULY 2, 2019

The use of AI and machine learning becomes critical in a world where firms want to increase the velocity of payment flow, but where security remains top of mind. The time frame to detect and examine an outlier is limited, and the windows are closing faster than ever.

B2B

PYMNTS

SEPTEMBER 23, 2019

. “The worldwide rollout of real-time payments – including person-to-person transfers and mobile payments – has given rise to criminal threats that thrive on the fact that these payments are often irrevocable,” said Jason Keegan, who oversees the fraud line of business for FICO.

Financial Crimes

PYMNTS

JUNE 3, 2020

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. By having good, ‘slick’ authentication, you get around some of the abandonment issues and put strong security in place,” he said.

Business Email Compromise

PYMNTS

NOVEMBER 22, 2019

The following Deep Dive examines the factors that have contributed to growth in gift card fraud, how fraudsters exploit security loopholes and how merchants can better prevent such crimes. Fraudsters replace the security strip, put the cards back on the rack and periodically check the balance on the compromised cards.

Credit Cards

FICO

JANUARY 22, 2020

Criminals are trying to fool banks into thinking they are new customers or stealing account access by tricking people into making security mistakes or giving away sensitive information. Why try to crack a safe when you can walk in the front door?

Real Time Payments

PYMNTS

JULY 22, 2020

Recent events have irrevocably changed the way finance departments operate, bringing to light glaring issues with the current processes. There’s also the risk of fraud, security breaches, errors from missing information, inaccurate reporting and the inability to take advantage of early-pay discounts. It’s just more apparent now.

Automation

PYMNTS

FEBRUARY 11, 2019

Yet, no matter the distinctions of when transactions are finalized, security and reliability are always top of mind. The flip side, as Webster added, is that when payments are done instantly and on demand, they are irrevocable.

Faster Payments

PYMNTS

APRIL 22, 2019

” This focus on faster, single-payment processes has also introduced shifts in payment security and fraud mitigation efforts, which are likely to make a mark on corporate payment strategies moving forward.

Faster Payments

PYMNTS

JANUARY 3, 2020

Take a core business function – payments, for example – and then make it lightning-fast, less expensive and secure. These include advanced data security and new state and federal regulations governing payout mechanisms – to say nothing of the irrevocable nature of instant payments. Making Money Fast. Want to make a CFO smile?

Instant Payments

PYMNTS

OCTOBER 30, 2019

Where the rubber hits the road — in terms of executing those ideas — is when the plans to switch to an instant payments paradigm are taken to those enforcing compliance and risk, she said, and when firms start taking a real look at how they can get instant payments up and running as an option safely and securely. .

Instant Payments

PYMNTS

JANUARY 21, 2019

In other words, innovators – as innovators are wont to do – are using new tech and their own creativity to bridge the regulated, secure legacy systems in place today with new ways to create value in a dynamic, digital and on-demand world. Visa and Ingo Money announced something similar for SMB merchants several months back.

Faster Payments

Nanonets

SEPTEMBER 8, 2023

The sender's bank transmits a message through a secure messaging service like SWIFT or Fedwire. Once a wire transfer has cleared, it becomes irrevocable, with a few exceptions. Security : It's essential to consider the level of security and flexibility they offer.

Wire Transfer

PYMNTS

AUGUST 12, 2019

For the dwindling numbers of people who still receive a physical paycheck, new applications let workers take a picture of that check and get instant, irrevocable access to the funds for a modest fee. Same-Day ACH , launched in September of 2017, makes emergency payroll possible — not instantly, but within the same business day.

Real Time Payments

The Fintech Times

JULY 24, 2024

Focus on regulation and security Jennifer Lucas, Americas payments and consulting leader, EY Revolutionary change, as alluded to by Hudak, will be very difficult to see explains Jennifer Lucas , Americas payments and consulting leader, EY , the accounting firm.

FedNow

Seon

APRIL 18, 2024

By leveraging AI, ML and other technologies like device intelligence, digital footprinting and transaction monitoring, companies can enhance automation, boost confidence in their security measures and make faster, more accurate decisions. In doing so, they can address the challenge of scale and turn the tide against fraudsters.

Authorization

PYMNTS

OCTOBER 8, 2019

Payments people love to talk about rails — whose rails are the fastest, cheapest, most secure, most accepted, most compliant. That’s particularly true when funds are truly instant — meaning they are irrevocable. Consumers, not so much.

Instant Payments

Global Fintech & Digital Assets

OCTOBER 31, 2023

Other various categories of actors are exempt from the DFAL, such as banks, trust companies, payment processors, registered broker-dealers, entities regulated by the Commodity Futures Trading Commission, and clearing agencies registered or exempted pursuant to federal securities laws.

Laws

PYMNTS

JANUARY 30, 2020

This new reality isn’t without its challenges for financial services providers, however, with security and fraud mitigation among the largest concerns. What’s more, these transactions are irrevocable, and as fraud losses mount, new questions surface over who holds liability to recoup funds.

Faster Payments

Nanonets

SEPTEMBER 1, 2023

The US must catch up in adopting real-time payment systems and notably needs to secure a place within the top 10 nations. As transactions are irrevocable, the need for vendor confirmation is eliminated, simplifying and hastening the reconciliation process within your system.

FedNow

FICO

JUNE 15, 2023

Since worries about regional bank struggles and an uncertain stock market are driving people with cash to look for safe havens and good interest rates, it pays to be very careful about security as well as who is behind the friendly new banking brand. Is Sending Money Too Simple?

Scams

FICO

DECEMBER 20, 2022

Scammers can hide in plain sight and use social engineering and direct outreach to consumers to coerce individuals to make instant, irrevocable payments. Buy-Now-Pay-Later Will Win on Customer Experience but Needs Enhanced Security. BNPL usage is beginning to hit critical mass, with roughly 60 million users today.

Digital Payments

PYMNTS

NOVEMBER 19, 2019

Between the regulations, the compliance issues and the myriad security concerns, offering instant payments in a useful fashion isn’t about flipping a single switch to enable a single method of use. On top of all that, there are also security concerns, because instant payments are also irrevocable.

Instant Payments

Fintech Labs Insights

OCTOBER 26, 2016

Developed by the Royal Canadian Mint and purchased by nanoPay in 2015, MintChip is a cloud-based currency that can be used to securely store and transfer digital value instantly, without third party intervention. The technology provides for final, irrevocable transactions in real-time that are cryptographically secured.

Irrevocability

Seon

JULY 27, 2023

According to the Federal Reserve’s FAQs page, the system is secure and can carry out transactions within seconds on a 24/7 basis, any day of the year. On one hand, it is convenient and able to reduce both security friction and the customer queries and hacking attempts that would otherwise come with it.

FedNow

PYMNTS

AUGUST 5, 2019

The Ingo app lets consumers take a picture of a check and get instant, irrevocable access to those funds instead of standing in line at their bank or check casher. But with the FinTechs and security players deepening their moats with better data and AI, the bad guys are now doing what they do best: looking for a more vulnerable target.

Checks