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Retailers Ask The Fed For Real-Time Payments

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Target and Walmart , among other companies, are asking the Fed to create a way for interbank transfers to be settled in real time, 24/7, in an effort to get paid in real time. The Fed had discussed actions that could aid in the creation of a faster payment system, such as the development of a real-time settlement service.

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Fed Task Force Releases Payment Lifecycles And Security Profiles

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The profiles serve as educational materials outlining the lifecycles, security characteristics and relevant laws and regulations for the most common payment types, the Federal Reserve said in a press release. “We Strong stakeholder collaboration is key to maintaining public confidence in the U.S.