Jack Henry Rapid Transfers and Tap2Local Compliance FAQ

This guide presents a comprehensive FAQ based on the Q&A report from the February 2026 Compliance Meetup, focusing on Jack Henry Rapid Transfers and Tap2Local. It addresses key operational and regulatory questions relevant to these services. The document outlines the applicability of the compliance session to both Mastercard and Visa institutions, clarifying that Rapid Transfers operates on card rails, distinct from RTP or FedNow. It discusses the necessity of updating disclosures for institutions and highlights the availability of weekly Office Hours for implementation advice. Additionally, it details risk and fraud controls, including the verification process for cardholders and the handling of address verification. The guide also covers transaction limits, overdrafts, and compliance reporting, explaining how transactions integrate with existing monitoring systems and the availability of real-time alerts. Overall, it serves as a resource for institutions navigating the operational landscape of these payment solutions.