The Federal Reserve finally catches on to real-time payments
Published in
3 min readJul 23, 2023
The launch of FedNow, the US Federal Reserve’s instant payment service for US banks, which allows individuals and businesses to send and receive money immediately, has largely been unreported outside the United States.
The service, the Fed’s first major upgrade since the 1970s, was launched on July 20, and allows banks to incorporate the payment system into…