A year after its launch, the FedNow® Service, the instant payment service introduced by the U.S. central bank last July 20, has seen 900 banks sign up and connect to the new rails. Seth Perlman, global head of product for i2c, told PYMNTS that the sign-ups...
It’s easy to generate buzz — harder to generate results. As PYMNTS continues to interview key executives about the first year of the FedNow® Service, it’s apparent that the Federal Reserve’s instant payments network has done both, and its customers are grateful. Eric Foust, vice...
Anniversaries are a time to reflect, evaluate and to anticipate what lies ahead. And so it is with the FedNow® Service, which celebrates a year in the marketplace on July 20. As of now, about 900 banks have signed on to the new federal payments...
The future of money movement is accelerating globally. With real-time payments on the U.S. RTP® Network and in Europe setting new usage records, and awareness of instant payments growing in the U.S. since the launch of the FedNow® Service last July, organizations and observers may...
July 24, 2024
A year after its launch, the FedNow® Service, the instant payment service introduced by the U.S. central bank last July 20, has seen 900 banks sign up and connect to the new rails. Seth Perlman, global head of product for i2c, told PYMNTS that the sign-ups bode well for faster payments — but getting to 7,000 […]
July 23, 2024
It’s easy to generate buzz — harder to generate results. As PYMNTS continues to interview key executives about the first year of the FedNow® Service, it’s apparent that the Federal...
July 19, 2024
Anniversaries are a time to reflect, evaluate and to anticipate what lies ahead. And so it is with the FedNow® Service, which celebrates a year in the marketplace on July...
April 17, 2024
Real-time payments have enjoyed optional status up to this point. But they are quickly becoming an essential competitive factor for financial institutions (FIs), especially in sectors like real estate and...
April 04, 2024
Trustly and Cross River Bank have expanded their collaboration in instant payments to include the FedNow® Service. With this addition, Trustly’s merchants will benefit from new capabilities to optimize the routing of funds instantly via Cross River’s application programming interface (API) endpoint, the companies said in a Thursday (April 4) press release emailed to PYMNTS. “With Cross River, we […]
December 14, 2023
The Federal Reserve says 331 financial institutions (FIs) are employing the FedNow® Service, its real-time payments system. The service launched in July with 35 participants, and is expected to continue growing in 2024, the...
November 22, 2023
The U.K. risks falling behind other nations unless it can create an alternative to its Faster Payment Service. That’s according to a new government-commissioned review on competitiveness in the country’s...
November 17, 2023
The Federal Reserve Board has announced price changes for 2024 that will raise the price for established, mature services by an average of 1.8%. For the FedNow Service®, the fee...
