Payments News

On The Web

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Systems

The Future of Payments Is Instant

“Change in the payments industry has been accelerated by COVID-19. Merchants have responded by making it easier than ever for their customers to make in-person contactless payments and purchase goods online from the safety of their homes. The Federal Reserve intends to support payments change with its first major new payment system in four decades. […]

On The Wires

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Systems

Federal Reserve Announces FedNow Pilot Program Participants

“The Federal Reserve Banks today announced that more than 110 organizations are participating in the pilot program for their upcoming instant payments offering, the FedNow Service. The program will support development, testing and adoption of the FedNow Service, as well as encourage development of services and use cases that leverage FedNow functionality. A key objective […]
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Systems

Announcing the FedNow Pilot Program

“The Federal Reserve announced the creation of the FedNow Pilot Program to support development, testing and adoption of the FedNow Service. This program continues efforts to foster industry partnerships in the development of the new instant payments service. Over the coming weeks, the Federal Reserve will accept expressions of interest in the pilot program from […]