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Understanding the risks of real-time fraud in real-time payments

Fraud & Scams Digital & Commerce

Real-time payments bring a wealth of opportunities to financial institutions and customers alike.    

According to a survey by the 451 Research Group, over 45% of US consumers state that access to real-time payment (RTP) capabilities is a driver for engaging with a new bank. However, the same survey found that a significant percentage of consumers lack trust in their banks’ fraud capabilities – and there is still significant anxiety around the safety of direct transfers.  

While the proliferation of services such as Zelle, Venmo and CashApp are clear indicators of the growing popularity of instant payments, banks should be ready to tackle the difficult trade-off between speed and security. For banks and FIs, RTP represents a great opportunity to drive greater engagement of customers, but they must first set the stage for payments to happen in a secure way.

In the report 'To catch RTP Scammers in Action, Banks Must Abandon Traditional Security Thinking' the 451 Research group delves into the fraud challenges brought about by RTP. The report sets the scene for the growing popularity and expansion of RTP in the US, it then moves to cover:

  • Lessons learned from the growth and evolution of fraud in markets, such as the UK, with large RTP adoption
  • How the drivers for RTP usage shape the nature of RTP fraud
  • Pitfalls of traditional fraud solutions designed for legacy payment methods
  • Features of real-time fraud prevention: multi-layered, intelligent, and timely

451 Research have published a Vanguard Report, commissioned by Callsign, looking at how organizations can prepare for the growth of RTP payments and the potential increase in fraud associated with that growth.  Download your complimentary copy here

Article written for Callsign by:


Sampath Sharma, Fintech analyst, S&P Global Market Intelligence


of US consumers state access to RTP capabilities ranks as an attractive driver for opening a new account with a bank
of UK APP fraud losses in 2021 were through faster payments systems
of bill payments take place using real-time payment methods

415 Research Report

To catch RTP Scammers in Action, Banks Must Abandon Traditional Security Thinking

Download your copy