Remove 2020 Remove ACH Operations Remove Real Time Payments
article thumbnail

Why FedNow Will Slow Real-Time Payments

PYMNTS

It’s also not why the Fed decided to enter the real-time payments fray. The Real-Time Payday Reality. Direct deposit over the ACH network eliminated that friction and got them earlier access to those funds. They also expect they will have nearly all banks on board by the end of 2020.

article thumbnail

Faster Payments: Does The Fed Have A Hidden Agenda?

PYMNTS

Connecting these two dots suggests a few important things that, for banks and card networks, might be the 2020 hindsight that could have come in handy had they stopped to look backwards a few years ago: That the Fed has much more than a passing interest in how faster payments are run in the U.S. A Couple of Important Dots.