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2024 Payment Methods Report: Overview, Insights, and Statistics

Clearly Payments

Primary Use Cases : CBDCs are designed to enhance financial inclusion, streamline payments, and provide a government-regulated alternative to cryptocurrencies and private digital payment providers. Wholesale CBDCs focus on interbank settlements, enhancing security and efficiency in large transactions between financial institutions.

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

PYMNTS

In an interview with Karen Webster, Boston Federal Reserve Chief Operating Officer and FedNow Program Executive Ken Montgomery said the central bank’s ambitious payments initiative remains on track — and will inject competition into the instant payments market. He noted there has been additional input from the FedNow Community of 700 members.