3 ms·

Speed of payment wasn't really the issue though? I mean after all credit cards take multiple days to post. They tackle a lot more than just speed.

• toomuchtodo 3y ago
  There is a credit and fraud component, for sure, but fundamentally credit card rails are used when someone wants to know the person presenting a card is good for the funds. Successful auth? High confidence funds will settle assuming no fraud exceptions, etc. Fraud mitigations and credit can still be provided by other mechanisms in an instant payment system (based on how the other 54 instant payment systems in the world operate). Payers who don't need fraud protections can make payments without it, payers who do can pay an additional fee for it (or rely on the legal system for that capability, as we do for cash, checks, wires, and other non credit card value transfer mechanisms).
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