It’s now official. The Fed plans to build its own instant clearing and settlement rails. Introduced on Monday by Federal Reserve Board Governor Lael Brainard, the Fed’s instant payment scheme FedNow is designed to offer an option for consumers and business to transfer money instantly or nearly instantly in...
The Fed wants payments to move faster — and quickly. In the latest issue of the Faster Payments Tracker™, a PYMNTS and NACHA collaboration, Connie Theien, senior vice president of payments industry relations at the Federal Reserve and Janet Estep, CEO of NACHA, discussed the...
The United States hasn’t had a new payment system for 40 years – until now. And, now that the U.S. has had a taste of faster payments, the country’s Federal Reserve wants to push the industry even further into the future. The December edition of...
When the Federal Reserve ticked the interest rate up to 0.25 for the first time in a decade last December, it was something of big moment — it was the first time the rate has been above zero in almost a decade. In the wake of the...
August 09, 2021
If done right, the expansion into high value, real-time B2B payments will be a “huge game changer,” Reserve Trust CEO Dave Wright told PYMNTS, pointing to the multi-trillion dollar opportunity that exists to digitize, modernize and democratize this largely untapped slice of the market. “Our focus is pretty strongly on business-to-business payments,” Wright told PYMNTS’ […]
August 06, 2019
It’s now official. The Fed plans to build its own instant clearing and settlement rails. Introduced on Monday by Federal Reserve Board Governor Lael Brainard, the Fed’s instant payment scheme FedNow is designed to...
September 13, 2016
When the Federal Reserve ticked the interest rate up to 0.25 for the first time in a decade last December, it was something of big moment — it was the first time...
June 08, 2016
On Tuesday (June 7), U.S. regulators issued a stern warning to banks to be on the lookout for cyberthreats in the aftermath of the Bangladesh cyberheist, where $81 million was taken without a trace from the central bank’s account at the NY Fed. According to Reuters, the notice from the Federal Reserve advises financial institutions to […]
June 02, 2016
Between 2011 and 2015, the U.S. Federal Reserve was targeted in more than 50 cyberattacks. From cybersecurity records gathered via a Freedom of Information Act request, Reuters reported that it...
December 14, 2015
The holiday shopping season is in full swing, with sales results showing that, so far, U.S. consumers are opening their wallets to make the most of it. Late last week, Reuters...
February 03, 2015
On Jan. 26, the Federal Reserve released their plans to explore faster payments more in depth, with a potential release of their study on Feb. 24-26 at the Eastpay Conference in Orlando....
