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Fed Moves Ahead With FedNow Despite Objections

PYMNTS

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.

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In Sluggish Payments, Who’s To Blame: FIs Or SMEs?

PYMNTS

What if, instead, the argument can be made for SMEs to be more selective with the way they send and receive payments in favor of methods that are faster? After all, if an SME is frustrated at the speed at which a paper check clears, then why not stop using checks? Don’t use a check.’”.

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What’s Fast And Slow And Read All Over?

PYMNTS

Because innovation in payments waits for no man, not even The Man. If, by the way, if the Fed really wanted to make payments faster, they’d #KillTheCheck. That alone would give us much faster payments, on average. The paper check clearing system is the biggest drag on faster payments in the U.S.

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