What Is FedNow & How Can Businesses Prepare for It?
Seon
JULY 27, 2023
The bank of the soon-to-be-paid employee sends back a request for payment (RFP) via the FedNow Service for the payer to confirm the transaction on their app. In fact, the transactions themselves are irrevocable. This is alongside small per-transaction fees, including those for the initial request for payment (RFP) messages.
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