via YAHOO:
The Federal Reserve said Wednesday it will launch its long-awaited instant payment service FedNow in July.
The instant payment network will settle payments in seconds, with the capability to support consumer-to-consumer, consumer-to-merchant, merchant-to-merchant, and bank-to-bank transactions.
“With the FedNow Service, the Federal Reserve is creating a leading-edge payments system that is resilient, adaptive, and accessible,” said Tom Barkin, president of the Federal Reserve Bank of Richmond and the FedNow Program’s executive sponsor.
“The launch reflects an important milestone in the journey to help financial institutions serve customer needs for instant payments to better support nearly every aspect of our economy.”
h/t CopyNinja87
- Inter-Bank Lending Has Stopped And We’re On The Verge Of A Crash
- Stanford business study shows bank values are actually $2trillion lower than book value
- The UN Moves to Take Control of ALL Water
- AZ overturns election judgement to verify signatures
- France On Fire: Firefighters Joining The Protests… Trash Collection Workers In Paris Have Been On Strike For 17 Days
- Fifty More US Banks on the Verge of Failing
- Incredibly Good Article in The Economist About the Banking Crisis
- Putin Announces Agreement for the Yuan to Become the New Global Reserve Currency
- Knock knock. You’re next… Deutsche Bank
- I am surprised a Japanese magazine would allow this to run, but it is correct…
Views: 284