Exploring the Potential of Push Payments
With launch of FedNow and the increased adoption of TCH, one area which has just begun adoption is the framework for request to pay or push payments. While the adoption has remained thin, the panel seeks to explore the key business functions, products and services that could use these rails. Along with the rollout of the product, we plan to discuss the associated liability constructs on initiators and recipients. Push payments have potential to augment funding and top up products, introduce new use cases in investments, and in some cases replace use of existing payment methods which are inefficient or not fit for purpose. The discussion aims to address this, and how the push payment rollout in US may differ from models in other geographies.