FedLine and ISO 20022 - Payments Space

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FedLine

ISO 20022

FPC Draws Member Input with Town Halls on FedNowSM

Faster Payments Council

SEPTEMBER 17, 2019

In addition, Kirstin emphasized that the Fed would like to understand how our members feel about other proposed characteristics of FedNow, including: irrevocability additional descriptors that can be included in the ISO 20022 message format the $25,000 transaction limit real-time confirmation of the validity of the receiver's account intraday credit (..)

FPC

FPC FedNow Fed Request for Comment

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.

FedNow

FedNow Federal Reserve ISO 20022 Fraud Detection

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FPC Draws Member Input with Town Halls on FedNowSM

What Is FedNow & How Can Businesses Prepare for It?

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