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Advancing pay-by-bank card processing fees."

Herman said Sionic found fraud-prevention tools available Sionic has been working with Jack Henry & Associates to
in the marketplace to be lacking. So the company teamed integrate its pay-by-bank and fraud protection services
up with Google and Slalom, a global technology firm with PayCenter, a proprietary hub that streamlines the
based in Seattle, to develop a unique approach to fraud sending and receiving of real-time payments through
detection and mitigation. JHA's various core banking systems.

The Sionic fraud protection service is the final component Herman stated JHA has about 800 FIs on PayCenter that
required to make pay-by-bank transactions viable for can start offering customers a pay-by-bank solution this
checkouts, whether online, mobile or in-store, Herman year. "We also have access to about 1,500 [Google Cloud
said. It uses an AI model built by Slalom that is based Platform] sales reps" who can sell pay-by-bank to retail-
in part on the real-time payment experience in the Indian ers," Herman said.
market.
So, what about disputes? "Financial institutions aren't set
Herman added that it was critical for consumer adoption up to handle pay-by-bank disputes, so we remove banks
that its pay-by-bank solution be accessible with mobile de- from that liability," Herman said. The consumer will have
vices, so the company is making the solution available on a disputes button in their digital wallet, which can be used
the Google Cloud platform. Additionally, it had to be able to immediately notify a retailer of problems with their
to access both FedNow and RTP. pay-by-bank transactions. Disputes get handled automati-
cally based on each retailer's established business rules, he
"Sionic is addressing the largest use case for real-time pay- added, noting that "refunds can be credited in a matter of
ments by consumers using their Apple or Google wallet to seconds."
pay for goods and services along with a Bank Perks pass
and earn instant perks from participating merchants," the Patti Murphy, self-described payments maven of the fourth estate, is
company said in a statement. "Merchants receive the digi- senior editor at the Green Sheet. She also co-hosts the Merchant Sales
tal direct deposits in seconds and bypass expensive credit Podcast, and is president of ProScribes Ink.

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