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Happy First Birthday FedNow: But is This a Cause For Celebration?

The Fintech Times

JULY 24, 2024

Last year, the US Federal Reserve launched FedNow as a competitive alternative for instant payments in the US. Both offer similar services, but FedNow participants can transfer funds from their Federal Reserve master account, which means they have an extra pool of resources for liquidity management.

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FedNow Instant Payments RTP Federal Reserve 59
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The Future Of Payments Beyond The Pandemic

PYMNTS

JUNE 1, 2020

Edwards termed real-time payments “an ACH killer … it’s moving today’s batch process of banks exchanging files with each other to a Federal Reserve centric master account to an ‘instant’ way for banks to do it.”. Speed of payments changes the fraud equation, and the balance that needs striking.

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Cross-Border Payments Privacy Issuers 69
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