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Thomas Noyes's avatar

Thoughtful.. but most consumers want their bank involved in helping them manage the risk. Consumers don't want speed and finality, they want trust and recourse. No one wants to pay their bill faster.. with the rare exception of emergency bill payments.. Trusted person to person payments can take place in real time in most geographies today, and the number of times you set up a "new" payee is rare.

1) Visa Direct provides the ubiquitous engine with the CX of a real time payment. The bank shows the money has gone in our out.. and consumer has recourse.

2) for the Doc you wanted to pay.. we get a text message with the doc's web site. Use our card with applePay and done. The trust is in doc's domain and credentials to log in and see the bill. Then payment takes no time at all.

3) RfP is a good use case and I am in favor of that for RTP schemes. I see recurring billers moving this direction if there is no incremental price. Thats the problem in US w/ TCH. Banks are selling instant availability of funds with RfP at a significant premium. As a biller I'm not paying 2% when there was no cost to do it that way before. Advanced supply chain businesses don't want RfPs because they must first match the invoice to the terms and to the reciept and acceptance of goods. They also pay on their own timeline.

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