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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Off the Rails from the U.S. Faster Payments Council - FPC · 27 March 2025 Peter Tapling on Payments Headlines, Pay by Bank, and March Madness · 27 Mar 2025 podcast

And they are now big debit card users, right?

Because they fear what they would do to themselves, I guess, with credit.

So I think it's a little bit of a natural evolution.

I think some bits of technology that are driving it are around the ability of these providers to make better risk decisions.

So they have the ability to do real-time checking of information about a customer's bank account via open banking capabilities.

And so they can...

You know, one of the reasons that historically we've not done this via ACH is the two or three day settlement cycle.

And somebody gambles really big on Arkansas to win it all in the NCAA Final Four and they lose and they pick up the phone, call their bank and say, hey, it wasn't me.

And so we're going to wrestle for a time with that.

Some of that's handled contractually in the pay by bank platforms.

But I do think that I think it's here to stay.

I think that, you know, just like BNPL kind of hit with a big splash, didn't ever go away.

It's still out there.

I think pay by bank is going to hit with a big splash.

It's going to be out there for a long time.

Yeah, so I didn't have a chance to read the article and I don't know if it was all fraud or just scams.

The reason I asked the question is because there was a similar study done in the UK, where the UK said something like something on the order of 80%.

of scam losses can be traced back to social media um and in a scam loss what's happening well it's the rightful account holder and the rightful account holder is going to their financial institution saying please send money to this party um and so uh i i do think in scams

It doesn't surprise me at all that a lion's share of it starts in social media.

The way that scams work is bad guys get someone who's vulnerable all spun up around some topic, whether it's becoming a Bitcoin billionaire or white puppies or a new husband or wife from some foreign country.

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