Analysisreal time paymentsfraud preventioningo payments
Instant Payments Improve Security Versus Checks
7.1
PYMNTS Intelligence and Ingo Payments' Money Mobility Tracker reports rising instant payments adoption but persistent fraud fears among businesses and financial institutions. The study finds 16% of firms experienced payment fraud, notes checks are 16 times likelier to be lost or altered, and shows 37% now cite enhanced security as a top benefit, up from 25% a year earlier. Institutions must invest in monitoring and governance.
Key Points
- 1Report that 16% of firms experienced payment fraud, while checks remain a leading fraud source
- 2Highlight that checks are 16 times more likely to be lost, stolen, or altered than electronic transfers
- 3Urge FIs to adopt monitoring, governance, and fraud-prevention to scale instant payments securely
Scoring Rationale
Credible industry survey with practical guidance; limited novelty but wide scope and clear implications for payment firms.
Sources
Public references used for this report.
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