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Irrevocability of Faster Payments Addressed

Faster payments are booming. Volume is growing and transaction limits are rising, increasing the potential for more disputes with higher dollar values associated with them. While it is not cause for alarm, it serves as a call for us, as an industry, to address disputes in a way that meets consumer expectations while still enabling the instantness and irrevocability of faster payments. The Faster Payments Council explored this topic at its most recent Member Meeting. Take a look at their latest blog post, Exploring Irrevocability and Industry Next Stepsto learn how you can tackle the challenge of irrevocability through prevention.