Around the globe, faster payments are becoming the norm. Peer-to-peer (P2P) payment systems, like Zelle, allow users to make instant payments using email or their mobile phone. While the convenience of a real-time digital payment network is undeniable, the inherent fraud risks must be acknowledged.
I’ve attended many security conferences over the course of my career in cybersecurity, but this was my first time at Money20/20 USA. I had to blink a few times when I stepped onto the show’s Expo floor. Did I take the wrong flight and end up at a security conference — or, to be more specific, an Identity conference?
The value of payments cleared by Payments Canada’s systems in 2017 was approximately $50 trillion, or roughly $200 billion every business day. By 2020, these payments will be completed faster — in “real-time” or “near real-time” — with many benefits beyond just faster access to funds.
Identity, biometrics, and authentication took center stage at the world's largest payments & financial services innovation event
The next phase of faster payments in the U.S. has arrived. Beginning on September 15, same day payments will be available for virtually any ACH transaction.” This is because Same Day ACH is being opened up for debit entries.