What Is FedNow & How Can Businesses Prepare for It?
Seon
JULY 27, 2023
The payer approves, then their credit union screens the payment and sends a payment message through the FedLine network. In fact, the transactions themselves are irrevocable. There will no longer be the safety net of a long timeframe to spot, report, and counteract fraud risks because FedNow uses instant and irrevocable transactions.
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