Remove Interbank Settlement Remove ISO 20022 Remove Transaction Limits
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Fed Says America Needs Instant Payments As Soon As Possible

PYMNTS

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. That will include allowing banks to set various transaction limits. If all goes as planned, that is.