EBA CLEARING

Instant payments should be seamless. But convenience comes with a heightened risk, particularly if no point of sale is involved: once the transfer is sent, it is gone for good. To protect their customers from fraud, PSPs want to create good friction – pauses at the right moment and for a real reason of concern. The fraud fighting tools of FPAD can help PSPs substantiate doubts and prevent fraud on the one hand, and minimise friction caused by poor match rates for legitimate payments on the other hand. Learn more https://lnkd.in/eJHxr-WM #fraudfighting #payments #instantpayments

Here are some of the key messages our CEO Hays Littlejohn shared today during the #sibos session "Stopping faster payments from becoming easier fraud": 🚨 Payment speed attracts fraud. 🚨 Fraud is growing fast. 🚨 With the EU's #instantpayments regulation coming into effect next year, fraud fighting is becoming more urgent. 📣 PSPs are well-positioned to fight fraud and so are market infrastructures. 📣 It is important that we all speak the same language, since this will allow us to add more granularity, which will help to fight fraud. 📣 We can look at anomalies and detect patterns at network level, which we can make available to PSPs before the transaction settles. For more, check out FPAD https://lnkd.in/eJHxr-WM and the EBA Fraud Taxonomy https://lnkd.in/epckr9vc #paymentfraud #fraudfighting

Are you attending #Sibos? EBA CLEARING's Hays Littlejohn will be joining a panel discussion on fraud fighting, specifically when it comes to faster and cross-border payments. Learn more about the current fraud developments and how the industry is coming together to fight it.

Fraud fighting is a challenge that PSPs across Europe share. And yet, for a long time, they have been tackling it individually, without being able to fully assess beneficiary and transaction risk.   With FPAD, our user community has taken a collaborative approach to combat fraud at a pan-European level. Providing a unique network view, FPAD complements PSPs’ individual fraud-fighting tools and helps remove blind spots.  Learn more https://lnkd.in/e5Q9bVqB #instantpayments #fraudfighting

EBA CLEARING welcomes 50th active user of its FPAD fraud-fighting functionality! Since its launch in March 2024, the pan-European FPAD functionality has offered our RT1 and STEP2 users a wide range of real-time fraud fighting tools based on its network view. The speedy uptake confirms that our users are embracing the value FPAD brings to their fraud risk assessments and that they can easily integrate the functionality with their existing tools. To see what our users say about FPAD and to learn more about the functionality, read our press release https://lnkd.in/e5Q9bVqB #payments #paymentfraud #fraudfighting

With EBA CLEARING’s R2P Service, PSPs can easily implement SEPA Request to Pay and make instant payments part of a fully digital customer journey. Watch video to learn more https://lnkd.in/ec_idKJu #requesttopay #SEPA #payments

The uniform rules and service levels offered by the SEPA Request-To-Pay Scheme of the European Payments Council and EBA CLEARING’s R2P Service enable PSPs to deliver request to pay solutions to their customers across Europe.  Watch video to learn more https://lnkd.in/eGR22Egk #requesttopay #SEPA #payments

Recently, eight multinational PSPs completed a proof of concept using our R2P Service. The PoC participants demonstrated how easy it is to use and integrate R2P with end-user solutions, confirming the readiness of R2P to support commercial request to pay use cases.   Watch our video for a powerful outlook on the benefits that request to pay will generate for businesses across Europe! https://lnkd.in/ec_idKJu #requesttopay #SEPA #payments

Looking for a Verification of Payee solution? That reaches PSPs all across SEPA? And is easy to connect to? You can leverage Fraud Pattern and Anomaly Detection (#FPAD) functionality for Verification of Payee, as the majority of our users already plan to do.  FPAD is already an integral part of RT1 and STEP2, and provides PSPs across SEPA with a wide range of real-time fraud prevention and detection tools. And what makes those tools special is that they add network-based insights to the individual risk view of PSPs.  ✅ Case in point: with FPAD, you can already run IBAN/name checks today. ✅ Its enriched routing and verification mechanism will be live before the end of the year and will meet all requirements of the Instant Payment Regulation and the EPC VOP Scheme. ✅ And FPAD's Verification of Payee options not only address compliance and risk considerations - they can also help you limit friction for your customers. We offer regular webcasts to help our RT1 and STEP2 Participants get ready to onboard FPAD and Verification of Payee. If you are a participant and want to learn more, you can still register for the related webcast on 27 August. More on our services can be found at https://lnkd.in/etQkTEp7 #verificationofpayee #SEPA

Reliable services, anytime, all the time: our multiple operations sites provide 24/7/365 service monitoring, customer support and incident management capabilities, and they are safeguarded by highly robust second and third lines of defence. This is how we ensure the resilience and day-to-day performance of our infrastructure systems. Learn more about EBA CLEARING and its payment services https://lnkd.in/eZK-Vghr #payments #sepa