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Fed Seeks Comment On New Operating Hours For Fedwire Funds

PYMNTS

The Federal Reserve has released a request for comment on potential changes to its National Settlement Service (NSS) and Fedwire Funds Service, as well as feedback on a possible new posting time for transactions, and an increased daylight overdraft fee. ET and settlement at 1:00 p.m. ET and settlement at 5:00 p.m.

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B2B Innovators Explore The New Payment Rail Combinations

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To address the supplier acceptance challenge, CardUp automatically shifts bank transfer or check payments to cards, while ensuring that suppliers receive those funds via the original payment method. The Central Bank of Iceland has rolled out its real-time gross settlement system and instant payment platform, recent reports said.

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