Instant Payments, Interbank Settlement and Liquidity Management

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. We can also see opportunities for small and medium businesses.

Instant Payments

Instant Payments FedNow Fed Interoperability

Deep Dive: Weighing The Federal Reserve’s Faster Payments Proposal

PYMNTS

FEBRUARY 4, 2019

Against this backdrop, the Federal Reserve proposed creating its own real-time payments service in October 2018. The system would facilitate 24/7 year-round interbank settlements of faster payments and also provide a liquidity management tool to support transfers between Federal Reserve accounts.

Faster Payments

Faster Payments Federal Reserve Real Time Payments TCH

Payments Space

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

Deep Dive: Weighing The Federal Reserve’s Faster Payments Proposal

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