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Deep Dive: Weighing The Federal Reserve’s Faster Payments Proposal

PYMNTS

million Australian consumers — more than 5 percent of the population — registered with the service within its first month. . The Federal Reserve’s Faster Payments Task Force established a goal in July 2017 that any consumer or business with a U.S. Payments: Consumer Preferences. Consumer Credit: Rising Usage” report.

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FedNow’s Montgomery: Gearing Up For 2023-24 — And Instant Payments Competition

PYMNTS

As reported in August, the Fed had announced some additional details of the 24/7 year-round interbank settlement service through a program that began to take shape in 2019, geared toward speeding processing times tied to instant payments (and featuring a clearing function). How does one then turn that into cash?