The Federal Reserve’s digital payments system, which it promises will help speed up the way money moves, will debut in July. FedNow, as it will be known, will create “a leading-edge payments system that is resilient, adaptive, and accessible,” said …
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 …
via reuters: March 15 (Reuters) – The U.S. central bank will launch its “FedNow” instant payment service in July, the Federal Reserve said on Wednesday, with certification and testing for early adopters starting in the first week of April.
FedNow is being developed by the Federal Reserve, and is a CBDC, (Central Bank Digital Currency)… It will enable instant digital payments 24/7 365 days a year between individuals and organizations using the FedNow app on your phone. I have …