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

PYMNTS

As reported in August, the Fed had announced some additional details of the 24/7 year-round interbank settlement service through a program that began to take shape in 2019, geared toward speeding processing times tied to instant payments (and featuring a clearing function). The Timeframe .

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Deep Dive: Weighing The Federal Reserve’s Faster Payments Proposal

PYMNTS

The new rail facilitates 24/7 payment clearing and settlement in real time. The system would facilitate 24/7 year-round interbank settlements of faster payments and also provide a liquidity management tool to support transfers between Federal Reserve accounts. The Federal Approach. Dissenting Views.

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PayFi Teams With The Clearing House For Real-Time Payments Platform

PYMNTS

The network is the first to deliver 24/7 clearing and interbank settlement, including the real-time movement of money and enriched data between participating financial institutions,” PayFi said. PayFi said its RTP network is the first new core payments infrastructure in over 40 years. depository institutions.

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Finovate Debuts: Ledger’s Blue Smartcard Mitigates Phishing & Malware Attacks

Fintech Labs Insights

The company’s flagship hardware product Ledger Nano helps individuals protect their bitcoins and make payments safely. Ledger CEO and founder Eric Larchevêque explains, “It is a hardware wallet, but we prefer to call it a personal security device because it can do a lot.”

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Tales from the Crypto: Funding Startups, Fighting Fraud, and Why the U.S. is a CBDC Laggard

Finovate

interbank settlement system compared to similar systems in Europe that were deployed sooner. Cryptocurrency platform Kraken introduced new Chief Operating and Product Officer Gilles BianRosa. The Atlantic Council says that there is an innovation gap between the U.S. and other developed nations when it comes to CBDCs.

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