đź’ˇ How does IBFT work behind the scenes?
- ⚙️ Real-Time Processing: When a customer initiates an IBFT transfer, the payment instruction is routed through PayNet’s Instant Transfer system, which processes the transaction immediately.
- 🔍 Verification: The system verifies the sender’s account details, available funds, and beneficiary information.
- 💸 Instant Credit: Upon successful validation, the beneficiary’s account is credited instantly.
- ❌ Irrevocability: Once processed, IBFT transactions cannot be reversed or canceled.
- đź•’ 24/7 Availability: IBFT operates continuously, including weekends and public holidays.
⚠️ Note: Once an IBFT transfer is made, it cannot be canceled.
Always double-check beneficiary details.