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News by FinTech Collective Archive

The Fed gives a timeline for FedNow, its payments platform

Sarah Wolter

August 30, 2022

https://www.passle.net/Content/Images/passle_logo-186px.png Passle https://passle.net

Sarah Wolter

payments

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

More posts by Sarah Wolter

India scrambles to curb PhonePe and Google’s dominance in mobile payments

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Centrifuge raises $15m in Series A funding for institutional DeFi adoption

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