Peter Tapling
speaker
497 appearances
2 recordings
1 series
first heard Mar 2025
last heard Jul 2025
Peter Tapling’s voice in public audio — every appearance, attributed to the second.
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Appearances
And so coming up with ways that we can, you know,
If these payment systems are going to succeed where the average payment value is $115,000 per transaction, then this might not be a problem because that's clearly not a consumer-facing payment rail.
But if we're going to move to small businesses, micro enterprises, and consumers, they're going to expect some level of assistance when things go wrong.
And correct me if I'm wrong, Reed, but we have a U.S.
Faster Payments Council work group
contemplating this exact problem.
A buy-ish, we're going to be a buy-ish.
We don't have consistent rules between credit cards, debit cards, ACH, wire, and instant today.
All of those payment rails in and of themselves, they work for what they serve and they work well.
I don't think we need to be in a world where we have universal consistency across everything.
um i do think that we need that's why but i said buy ish right but what i do think is we need to have a world where people have a belief that if they use an electronic payment through their financial institution that it's safe that the money will move and that they have clear understanding of what the deal is right so we tell people as financial institution the deal with a wire is
Money goes out of your account.
It's irrevocable.
There's no way to get it back.
It's going to take a little bubble, whatever the rules are.
We've set their expectation with credit card transactions, zero liability.
You don't like a transaction, pick up the phone, call the bank, you get your money back.
And so we do have to set expectations correctly, but I don't think all the networks have to work the same.
All right.
Good stuff, Peter.
Showing 221–240 of 497 · page 12 of 25
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