The Impact of FedNow on the US Payments Landscape
Segpay
JUNE 13, 2024
The Federal Reserve’s goal is to achieve wide adoption of FedNow over time, much like the Fedwire ® Funds Service and FedACH ® Services. SEPA was first introduced for credit transfers in 2008, followed by direct debits in 2009. The introduction of the SEPA Instant Credit Transfer (SCT Inst) in 2017 marked a significant milestone.
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