Remove Check Clearing Remove Fed Remove SWIFT
article thumbnail

How The FedNow Service Could Keep Checks In B2B Payments

PYMNTS

But reports also noted that the acceleration of check payments could have significant impact for companies and small businesses that use paper checks to pay vendors or employees. The impact of the Federal Reserve’ s faster payments initiative puts an interesting spin on the nation’s payments innovation efforts overall.

FedNow 66
article thumbnail

The Fastest Path To Faster Payments In The US

PYMNTS

But, don’t look for the recommendation to kill checks to emerge from the report that the 500+ person Fed Task Force that’s examining the path forward for the U.S. As for Bryan, he could care less since he just wants to know that he has access to the amount of the check when he needs to use the money. Of course they would.