The Federal Reserve has formed a pilot program to support the development, testing and adoption of the FedNow Service. The FedNow Pilot Program continues efforts to foster industry partnerships in support of the FedNow Service, and will be conducted in three phases: advisory, testing and closed-loop production.
As part of our collaborative efforts with the industry to improve the U.S. payment system, the Federal Reserve will be sharing educational resources to help stakeholders across the payments ecosystem see the possibilities and plan for the implementation of instant payments.
Connie Theien, Senior Vice President and Director of Payments Industry Relations at the Federal Reserve Bank of Chicago will advise on the newly formed U.S. Faster Payments Council’s (FPC) Board Advisory Group.
The Federal Reserve reached a milestone in the development of the FedNow Service with the August 6 announcement of the service’s features and functionality. This announcement reflects the Fed’s efforts toward establishing an infrastructure that will support instant payments in the United States.
Payments industry stakeholders attending the April 20 Nacha Payments 2020 Remote Connect virtual event received an update on the FedNow Service, the Federal Reserve’s instant payment solution.
The Fed is seeking payments industry leaders with varied expertise to participate in an interactive payments community to help inform and evolve the development of the FedNow Service.
Today, the Federal Reserve System announced it has joined the U.S. Faster Payments Council (FPC) (Off-site) as a founding sponsor. As a member, we’ll actively participate in the FPC’s work to facilitate faster payments in the United States, enabling Americans to securely pay anyone, anywhere, at any time with near-immediate …
Collaboration with payments industry stakeholders continues to be one of the five key tenets of the Federal Reserve’s payments improvement initiatives and a vital component of achieving safe, ubiquitous and faster payments in the United States. Most recently, our collaboration occurred through a series of FedPayments Improvement roundtable sessions during …
By Tim Boike, Vice President, Industry Relations Four short days. More than 11,000 attendees, 3,500 organizations and 500+ speakers from the payments, fintech and financial services sectors. Plus, a Federal Reserve exhibit booth in the middle of it all. Yes – it’s the Money20/20 USA conference (Off-site) – a major …
Want to learn more about the FedNowSM Service? Are you ready to share your feedback on the Federal Register notice before the November 7 deadline? We’ve pulled together our list of resources to help you better understand the Federal Reserve Board’s announcement to build and operate the FedNow Service (Off-site) …