PYMNTS

AUGUST 7, 2020

For the Federal Reserve, real-time payments will take time — three or four years’ time, to be specific. 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.

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PYMNTS

OCTOBER 12, 2020

In an interview with Karen Webster, Boston Federal Reserve Chief Operating Officer and FedNow Program Executive Ken Montgomery said the central bank’s ambitious payments initiative remains on track — and will inject competition into the instant payments market. Interoperability is a core component” of FedNow, said Montgomery.

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PYMNTS

AUGUST 7, 2020

percent since March, according to the Federal Reserve Bank of New York. Fed Says FedNow On Track For 2023-24 Rollout. The Federal Reserve Board on Thursday (Aug. At the end of June, consumer debt balances sat at $14.27 trillion, a drop of 0.2

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