Podcast Episode 24: Adding friction to real-time payments. Is it the best way to combat fraud and scams?
At the AusPayNet Summit in late 2023, there was a growing advocacy for adding friction to real-time payments—in other words, making them less instantaneous—to reduce, prevent, and protect against fraud and scams. The rationale is that real-time payments speed up the settlement process, which bad actors can exploit to commit fraud, swiftly transferring and withdrawing funds illegally, leaving consumers to bear the losses.
In this episode, Chris Jewell, CEO of Zepto, joins Matt Sykes, Director at Payments Consulting Network, to discuss the opportunities and challenges of real-time payment facilitation. They will delve into whether introducing friction to the settlement process is the most effective strategy to mitigate the risk of fraud associated with real-time payments.
Listen to the full episode below.
HOST
Matt Sykes, Director, Payments Consulting Network
GUEST
Chris Jewell, CEO, Zepto
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