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Federal Reserve is turning heads for its attention to faster payments, but the Fed has recently announced yet another initiative in the payments innovation space. Last week, the Fed’s SecurePaymentsTaskForce called for comment from industry stakeholders about what challenges they face when it comes to paymentssecurity.
Same Day ACH, the faster paymentsinitiative for banks and other financial institutions in the United States, seems to be popular. still has a long way to go and plenty of faster payment lessons to learn. According to NACHA, the network processed nearly $5 billion in 3.8 But the U.S.
To move forward, the Fed said it will support a working group and other collaborative efforts to continue developing a faster payments ecosystem for the nation, and work with industry stakeholders to address gaps and requirements for real-time payments settlement.
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