Send and receive money in real-time with full legal finality, immediate funds availability and insured security.
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Real-time Electronic Payments deliver a trusted, seamless, interoperable stream of secure business messages and transactions.
Each party to a ICN Payments™ transaction has complete control over the secure digital identities and authorities of their employees, ensuring that their policies and practices are automatically enforced in every transaction.In late 2003 and early 2004, InterComputer used an IC IOS prototype to successfully move real money between two real banks in real-time. For each payment, about 20 seconds was required to clear and settle. This proof of concept project was done for the Financial Services Technology Consortium (FSTC), the R&D arm of the largest U.S. banks. Today, ICN Payments™ functions within the ICN app to enable consumers to send and receive money between bank accounts with immediate funds availability.
ICN Payments™ also enforces cross validation exchange, which is a mutual, insured guarantee of identity and authority between two users from different organizations. This unique feature of the ICN Payments solution means that users can communicate and conduct business with insured confidence that their correspondent is who they claim to be, and has the organizational authority necessary for the communication/transaction that is taking place.
ICN Payments™ has no natural market boundaries. It works for any two business partners (two corners) or any number of business partners (multiple corners) in any market requiring the secure exchange of money and/or high-value information.
In 2013, the U.S. Patent Office granted ICN patent no. 8,380,622 for “Secure Electronic Payments with Reconcilable Finality”