PYMNTS

AUGUST 7, 2020

Federal Reserve Board members this week shed some light on the timing and mechanics of FedNow — an always-on, fully interoperable interbank-settlement service that will give rise to instant payments in the United States. 6) symposium highlighting the Fed’s approval of the FedNow system, Fed Gov. In a Thursday (Aug.

Instant Payments 75

Instant Payments Fed FedNow Interbank Settlement 75

PYMNTS

OCTOBER 12, 2020

As reported in August, the Fed had announced some additional details of the 24/7 year-round interbank settlement service through a program that began to take shape in 2019, geared toward speeding processing times tied to instant payments (and featuring a clearing function). Looking Toward Interoperability And Scale .

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Instant Payments FedNow Fed Interoperability 97

PYMNTS

FEBRUARY 4, 2019

TCH, which is co-owned by 25 banks, launched Real-Time Payments (RTP) in November 2017. The new rail facilitates 24/7 payment clearing and settlement in real time. The Fed sought feedback on the system, which brought in more than 380 responses. The Federal Approach. Community banks and credit unions also offered their backing.

Faster Payments 73

Faster Payments Federal Reserve Real Time Payments TCH 73

PYMNTS

DECEMBER 13, 2018

Vocalink also has been involved in the launch of The Clearing House’s RTP in the U.S., Separately, a number of retailers, among them giants Target and Walmart, have requested that the Federal Reserve create a real-time interbank settlement system.

Payment APIs and Integration 53

Payment APIs and Integration SWIFT Interbank Settlement Faster Payments 53