FedNow® Service Goes Live, Bringing Instant Payments to More Banks and Customers
TL;DR
The Federal Reserve has announced that its new system for instant payments, the FedNow Service, is now live. Banks and credit unions of all sizes can sign up and use this tool to instantly transfer money for their customers, providing benefits such as immediate access to funds and efficient cash flow management. The service operates alongside other Federal Reserve payment services and aims to support widespread availability for customers over time.
Topics:top-newsfinancetechnology#banks#credit-unions#federal-reserve#fednow-service#financetechnology#instant-payments
- Federal Reserve announces that its new system for instant payments, the FedNow® Service, is now live Federal Reserve
- Better Late Than Never: Federal Reserve Platform Will Finally Bring Instant Payments To More Banks–And Customers Forbes
- Fed launches long-awaited instant payments service, modernizing system Reuters
- FedNow Service has no relation with CBDCs, Federal Reserve clarifies Cointelegraph
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