Instant Payments, Interbank Settlement and ISO 20022

FedNow’s Montgomery: Gearing Up For 2023-24 — And Instant Payments Competition

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.

Instant Payments

Instant Payments FedNow Fed Interoperability

Fed Says America Needs Instant Payments As Soon As Possible

PYMNTS

AUGUST 7, 2020

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. Lael Brainard said the coronavirus crisis has heightened the need for instant payments.

Instant Payments

Instant Payments Fed FedNow Interbank Settlement

Payments Space

FedNow’s Montgomery: Gearing Up For 2023-24 — And Instant Payments Competition

Fed Says America Needs Instant Payments As Soon As Possible

Webinars

Stay Connected