What Is FedNow & How Can Businesses Prepare for It?
Seon
JULY 27, 2023
The payer approves, then their credit union screens the payment and sends a payment message through the FedLine network. In any event, the message follows the ISO 20022 standard, which according to the Federal Reserve will bring “interoperability, end-to-end efficiency of payments, and future innovation” to the FedNow Service.
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