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FedNow should launch in 2023 between May and July, which is the most specific the Fed has been yet about when the service will go live. Products enabled by FedNow will have nearly instant settlement around the clock and will be less expensive for merchants.
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"The payment system is a critical part of America's infrastructure that touches everyone.," Brainard said in a speech she gave today via webcast to the FedNow early adopters workshop in Rosemont, Illinois.
https://www.axios.com/2022/08/29/fed-timeline-fednow-payments-platform-lael-brainerd?stream=business
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