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As the global demand for faster, more affordable, and increasingly transparent cross-borderpayments intensifies, Project Nexus is emerging as a foundational initiative to meet the G20’s ambitious roadmap. What is Project Nexus, and how does it address today’s cross-borderpayment challenges?
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. The payer approves, then their credit union screens the payment and sends a paymentmessage through the FedLine network. When does FedNow go live?
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