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Lawrence Buettner is one member of the industry participating in this effort. The Federal Reserve currently operates its own ePayments directory, the E-Payments Routing Directory, which includes routing information for FedWire and FedACH transactions. The concept of a B2B payments directory isn’t new.
The Federal Reserve’s goal is to achieve wide adoption of FedNow over time, much like the Fedwire ® Funds Service and FedACH ® Services. Source: pymnts.com Its speed, competitive pricing, and integrated fraud management features are bound to attract a wide network of participating FIs.
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