In cases of unauthorized Zelle payments, consumers have legal rights and protections under the Electronic Funds Transfer Act (also known as "Reg E”). This also applies to FedNow instant payments, which has fraud management services available and includes a closed loop reporting requirement.
You should expect to see instant payment functionality that runs on FedNow rails within banking apps in the next 6-12 months. I cannot share more detail publicly unfortunately, my apologies.
(contribute at a fintech, thoughts and opinions always my own)
One of the bigger product goals for Zelle, I thought (though perhaps not the most publicized), was "moving liability away from banks more to consumers" (not exclusively, but moreso), I thought? I believe there had even been leaked internal presentations on that liability reduction.
You should expect to see instant payment functionality that runs on FedNow rails within banking apps in the next 6-12 months. I cannot share more detail publicly unfortunately, my apologies.
(contribute at a fintech, thoughts and opinions always my own)