Payments Dive

JULY 7, 2025

Louisiana is now the eleventh state to impose EWA regulations, with 10 new state laws instituting oversight for the fast-growing fledgling industry since mid-2023. By Lynne Marek • Aug. 5, 2024 Keep up with the story. By Lynne Marek • Aug.

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Payments Dive

JUNE 18, 2025

Under Caplan, who became CEO in March 2023, Payoneer has sought to move upmarket and do business with larger companies that bring more volume. The company turned profitable last year, and has told investors to expect longer-term earnings margins of at least 25% beyond 2026. Please select at least one newsletter. By Lynne Marek • Aug.

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PYMNTS

AUGUST 5, 2019

The Federal Reserve has officially announced it will create a real-time payments service, to be called FedNow. The move was described by Kansas Federal Reserve President Esther George as the biggest infrastructure upgrade embraced by the Federal Reserve since the ACH system went online in 1972.

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PYMNTS

MAY 6, 2020

The Federal Reserve has formed a FedNow Community group for its upcoming instant payment offering, the FedNow Service , and needs volunteers to support it, the Fed announced Wednesday (May 6). Montgomery, Federal Reserve Bank of Boston first vice president, in a statement. toward faster, digital payments.

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Bank Automation

MARCH 22, 2024

FedNow, launched just eight months ago, has overtaken its main competitor, The Clearing House’s Real-Time Payments network, in terms of the number of banks on the platform.

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Bank Automation

AUGUST 28, 2024

ATLANTA — Instant payments rail FedNow is nearing the addition of its 1,000th financial institution, and the Federal Reserve credits the growing adoption to its network of fintechs that enable the integration.

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Payments Dive

NOVEMBER 7, 2022

Federal Reserve banks introducing the new instant payments system next year will jettison customer transfer and participation fees for the launch.

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PYMNTS

AUGUST 6, 2019

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 a “ubiquitous, safe and efficient” manner from one bank account to another. Why Now For FedNow.

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Fintech Finance

MARCH 15, 2024

Federal Reserve Financial Services (FRFS) has introduced the new FedNow User Group to continue promoting collaboration among the 607 participating financial institutions and their service providers on the FedNow Service network.

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PYMNTS

OCTOBER 12, 2020

In an interview with Karen Webster, Boston Federal Reserve Chief Operating Officer and FedNow Program Executive Ken Montgomery said the central bank’s ambitious payments initiative remains on track — and will inject competition into the instant payments market. Interoperability is a core component” of FedNow, said Montgomery.

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PYMNTS

AUGUST 9, 2020

Not everyone favors the Federal Reserve Board’s launch of its settlement service designed to eliminate the three-day check clearing and support instant payments in the U.S. For the most part, the comments said the introduction of the FedNow would lead to less innovation and unfair competition with the private sector.

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Fintech Finance

JUNE 25, 2024

headquartered in Texas, to deliver instant payments capabilities to the banks global business and consumer customers through the Federal Reserve’s FedNow® and The Clearing House’s RTP®. According to a May 2024 Federal Reserve survey, U.S. According to a May 2024 Federal Reserve survey, U.S.

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Faster Payments Council

SEPTEMBER 23, 2023

This in-person event will take place on September 26-27, 2023, at the Hyatt Centric Beale Street Memphis in Memphis, TN. We will explore the launch of FedNow and the intricacies of operating with multiple instant networks.

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Finextra

AUGUST 14, 2024

Launched in July 2023, the Federal Reserve's FedNow service has been a game-changer in the U.S.

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Bank Automation

OCTOBER 4, 2024

As real-time payments become integral to growth strategies, small financial institutions are increasingly signing on with instant payment rail FedNow to boost transaction volume and improve efficiency.

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PYMNTS

AUGUST 14, 2020

A week after details of the Federal Reserve’s instant payment initiative emerged, news came via Bloomberg that the central bank is working with the Massachusetts Institute of Technology (MIT) to explore the possibility of issuing digital currency.

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PYMNTS

AUGUST 8, 2019

The Federal Reserve’s planned faster payments service, the FedNow Service, is slated to have an impact on the speed with which paper checks are processed, adding a new twist to the U.S.’s s path toward faster, digital payments. Keeping Checks In B2B Payments.

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Faster Payments Council

MARCH 15, 2023

This in-person event will take place on March 20-21, 2023, at the Loews Kansas City Hotel. FedNow may not interoperate with RTP, and it doesn't seem to be a priority for either. The Federal Reserve is close to launching FedNow. The Clearing House has gained momentum with its RTP service. What are your options?

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Faster Payments Council

AUGUST 23, 2024

In response, the Federal Reserve formed a scams definition and classification work group of payments and fraud experts to provide a more consistent foundation for scams reporting to help the payments industry better understand and mitigate the problem. Strategic shifts are required to unlock the full potential. 14 seconds.

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Payments Source

AUGUST 6, 2020

The central bank released new details about FedNow, which officials hope to get off the ground before a 2023 or 2024 target launch date.

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The Paypers

AUGUST 22, 2022

The Federal Reserve has announced that the FedNow service will launch by mid-2023 to make faster payments more widely available in the US.

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Clearly Payments

MARCH 18, 2024

Let’s delve into the key factors contributing to this decline: Shrinking Market Share: According to studies conducted by the Federal Reserve, cash usage has been on a steady decline. Data from the Federal Reserve reveals a stark reality—only 60% of businesses in the United States currently accept cash.

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PYMNTS

AUGUST 10, 2020

But it might not be the Federal Reserve ’s doing. Federal Reserve, where details (a roadmap, really) of FedNow , the proposed instant payment system, were released earlier this month. But with a 2023-24 timeframe to implementation, the Fed’s efforts will take a while to cross the Rubicon from concept to reality.

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The Fintech Times

JULY 24, 2024

Last year, the US Federal Reserve launched FedNow as a competitive alternative for instant payments in the US. In July 2023, FedNow was launched to the public and after a year of being out in the wild, over 600 financial institutions have adopted the instant payment method. ” And this is exactly what it did.

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Tearsheet

FEBRUARY 16, 2024

However, the landscape has become more competitive with the introduction of FedNow , the Federal Reserve’s instant payments system that launched last year in July. FedNow attracted 331 participants, while RTP had 460 participants as of December 2023. I interviewed Chiro Aikat, Executive VP of U.S.

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Payments Source

FEBRUARY 12, 2020

To address immediate market demand but allow time for the project to be done right, the official leading implementation of FedNow says the central bank envisions an initial release in 2023 or 2024 followed by subsequent updates.

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PYMNTS

DECEMBER 16, 2019

Google sent a letter to the Federal Reserve , asking the U.S. central bank to consider modeling FedNow after the Unified Payments Interface (UPI) framework used in India, The Economic Times (ET) reported on Sunday (Dec. billion in 2023 from $64.8 billion in 2019.

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Finovate

OCTOBER 16, 2024

FedNow, the U.S. Federal Reserve’s instant payment service went live in July of 2023. Now, 15 months later, adoption rates have been unpredictably slow, especially when it comes to banks that are able to send FedNow payments. Of the FedNow participants, 78% are community banks and credit unions.

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PYMNTS

DECEMBER 2, 2019

The Federal Reserve Board has approved a new fee schedule for payment services in 2020 that is overall 2.4 The fee schedule was established in accordance with the Monetary Control Act of 1980, which requires that the Federal Reserve recover the costs of services. The Reserve Banks estimate that they will recover 100.8

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PYMNTS

AUGUST 12, 2019

FedNow is positioned as a competitor to the private systems, with TCH as its only real-time domestic account-to-account competitor, but it also competes with cards and ACH. Still, they will need to weigh the cost of all that work against the upsides of FedNow. FedNow, of course, isn’t NOW at all – it is FedWAIT5YEARS.

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Payment Savvy

MAY 15, 2023

The Federal Reserve Bank is currently developing a new instant payment service called “FedNow” that will allow financial institutions to make instant payments. The FedNow Service will begin operating in July 2023 and it is the first U.S. Accessibility FedNow aims to be available to everyone.

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Nanonets

SEPTEMBER 1, 2023

The US Federal Reserve's new payment rail FedNow can shake up the landscape, offering significant time and cost savings. In this blog post, we delve into how FedNow could impact businesses and their vendor payment practices. What is FedNow?

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Fintech Finance

AUGUST 15, 2024

Instant payments use the FedNow service, developed and launched by the Federal Reserve in July 2023, and the RTP® network, launched in 2017 by The Clearing House. So far, over 1,000 banks and credit unions have signed on with either the RTP or FedNow networks, or both, and instant payment volume continues to grow.

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Fintech Finance

MARCH 28, 2024

Introduced in July 2023, the FedNow service was launched for US banks to provide a new instant payments infrastructure across the country. Nick Botha draws attention to one key strength of FedNow: it has the backing of the Federal Reserve.

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PYMNTS

AUGUST 21, 2020

Earlier this month, as PYMNTS noted , the Federal Reserve said its Boston bank is working with the Massachusetts Institute of Technology (MIT) to explore the possibility of issuing digital currency. Conceivably, a CBDC may be interchangeable enough to port onto any number of other platforms, including FedNow, he said.

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PYMNTS

AUGUST 7, 2020

For the Federal Reserve, real-time payments will take time — three or four years’ time, to be specific. Federal Reserve Board members this week shed some light on the timing and mechanics of FedNow — an always-on, fully interoperable interbank-settlement service that will give rise to instant payments in the United States.

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The Paypers

JULY 14, 2023

Financial technology platform Adyen has completed testing and certification for the FedNow Service, the Federal Reserve’s instant payment infrastructure launching in July 2023.

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