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Instant Payment Special Panel - One-Year Anniversary of FedNow's Debut

Wharton FinTech Podcast

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Navigating Instant Payments and Fraud Challenges

This chapter explores the complexities U.S. financial institutions face in adapting to the FedNow instant payment system, emphasizing the need for effective education and streamlined onboarding processes. It also addresses the critical issues of security and fraud, highlighting collaborative efforts between fintechs and banks to mitigate risks. Additionally, it looks at international experiences, specifically Brazil’s PIX system, showcasing the necessity of partnerships in enhancing payment solutions.

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