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What Is FedNow & How Can Businesses Prepare for It?

Seon

Launched on July 20, 2023, the FedNow Service is an instant payment system created by the Federal Reserve for American households and businesses. According to the Federal Reserve’s FAQs page, the system is secure and can carry out transactions within seconds on a 24/7 basis, any day of the year. What Is FedNow?

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FPC Draws Member Input with Town Halls on FedNowSM

Faster Payments Council

We were thrilled to have upwards of 100 of our members on the line to hear directly from Kirstin Wells, principal economist at the Federal Reserve Board. Hosted by the FPC's Education and Awareness Work Group, this Town Hall offered an opportunity for direct engagement with the Fed, including a robust Q&A session.

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