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FasterPayments Council (FPC), in collaboration with Volante Technologies , today released results from the 2025 FasterPayments Barometer, the latest in its series of comprehensive studies analyzing the adoption, trends, and perceptions surrounding fasterpayments in the U.S.
Fifty-four fasterpayment schemes — and counting. Real-time payments are on the radar for most banks, and the opportunity is there to grow top lines and cement customer relationships. With recent initiatives such as FedNow, announced earlier this year , there has been a recognition in the U.S. In the U.S.,
Instant payments, powered by the first new payment rails in the U.S. in more than four decades, enable businesses to move money faster and gain real-time insights into money movement as they track payments from initiation to receipt. is growing.
You’d be forgiven for thinking that fasterpayments might be the purview of the U.S. Federal Reserve, where details (a roadmap, really) of FedNow , the proposed instant payment system, were released earlier this month. Real time is getting ever closer to prime time. But it might not be the Federal Reserve ’s doing.
By Meagan Norlund, VP, Marketing & Communications, NEACH As the industry well knows by now, the Federal Reserve anticipates that FedNow SM will be available sometime between May and July of this year, ahead of schedule and only a few short months away. Your customers and members want fasterpayment solutions.
While responses to the FedNowRequest for Comment aren't due until November 7, we're looking at a significant strategic undertaking: we're forming recommendations for the first new payments system initiated by the Fed in more than 40 years. With our responses, we, quite literally, are shaping the future of payments.
But the Federal Reserve has its own horse in the race, called FedNow , which is on the horizon. Fifth Third’s Chayt said the need for speed might have gotten real-time payments initiatives off the ground, but that’s just a starting point. economy is proving to be a tailwind for fasterpayments and processes.
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