Fraud Prevention Irrevocability Request for Payment 
Faster Payments Council
SEPTEMBER 17, 2019
We were able to point out that our Regulatory, Directories, and Fraud Work Groups will be tackling these and other relevant topics in their upcoming work efforts. Our expansive, hour-long session resulted in a valuable back and forth, with many insightful questions and candid responses from the Fed.
Seon
JULY 27, 2023
FedNow works by offering banks, credit unions, and other organizations such as retailers a system where they can utilize instant payment services that go through this core process: The payer (e.g. an employer paying an employee their wages) uses an app provided by their credit union to request the desired payment.
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