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FPC 2022 Fall Member Meeting

Faster Payments Council

12:30pm-1:10pmCT: Panel Session – Efficiency and B2B Payment Modernization (Minneapolis Ballroom Salon AB) With the FedNowSM service coming next year, there's no time like the present to prepare for and innovate on instant B2B payments improvements.

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What Is FedNow & How Can Businesses Prepare for It?

Seon

The bank of the soon-to-be-paid employee sends back a request for payment (RFP) via the FedNow Service for the payer to confirm the transaction on their app. The payer approves, then their credit union screens the payment and sends a payment message through the FedLine network. Let’s take a closer look at these downsides.

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