Mobile and contactless payments have generated more consumer attention as ways to safely move money in the wake of coronavirus, but there’s also a growing wave of support for The Clearing House’s Real Time Payments (RTP) network for banks.
PaymentsSource spoke with Dave Excell and Steve Ledford (SVP of products and strategy at The Clearing House) about the accelerated transaction volume in RTP following the pandemic, while also acknowledging emerging fraud threats in the current environment.
“Fraudsters continue to perpetrate scams like they had previously, but now doing it in manners related to coronavirus. They can be phishing messages about pandemic cures or facemasks [in order to trick victims into responding] to download malware. The underlying fraud continues to be social engineering scamming and getting access to financial business accounts and at the banks.”
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