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Why FedNow Will Slow Real-Time Payments

PYMNTS

Senator Elizabeth Warren asks in a campaign ad, ignoring the fact that 93 percent of working Americans have their checks directly deposited into their bank accounts – ready for use on payday – using the ACH network. Ironically, perhaps, the ACH network’s first direct deposit use case was the U.S.

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Faster Payments: Does The Fed Have A Hidden Agenda?

PYMNTS

First, there was the Fed’s decision to slow faster payments progress via Same Day ACH because it wasn’t ready to approve another processing window during the day. Last week, NACHA issued an ACH operations bulletin announcing the delay of the rollout of a third Same Day ACH (SDA) processing window by six months, to March 19, 2021.