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FPC Draws Member Input with Town Halls on FedNowSM

Faster Payments Council

Kirstin spoke openly with our membership, addressing questions coming in from our members on topics such as ubiquity, interoperability, and industry collaboration. Fraud mitigation – Members can participate on Thursday, October 10 at 3 pm ET, to explore ways in which we can address the concerns around safety and security.

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What Is FedNow & How Can Businesses Prepare for It?

Seon

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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