Best Practices Funds Availability Request for Payment 
Faster Payments Council
JULY 21, 2020
The bank bill pay model where the consumer interacts with its online/mobile banking platform to request a payment be sent to the biller's bank. payment system. We are pleased to continue this important research in collaboration with the FPC.
Seon
JULY 27, 2023
FedNow works by offering banks, credit unions, and other organizations such as retailers a system where they can utilize instant payment services that go through this core process: The payer (e.g. an employer paying an employee their wages) uses an app provided by their credit union to request the desired payment.
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