Announcing Participants of the Newly Created FedNow Pilot Program
To support the development, testing and adoption of the FedNow(SM) Service, the Federal Reserve has announced industry participants in the FedNow Pilot Program.
FPC Payments Barometer: Industry Accelerates Faster Payments Amid COVID-19
Despite a tumultuous year, progress and innovation in the payments industry persists. According to the 2nd annual Faster Payments Barometer, nearly 4 in 5 respondents are either accelerating or maintaining faster payments implementation plans.
Continuing on the Road to Instant Payments
Faster payments, including instant payments, are quickly gaining popularity around the world. And here in the United States, the topic is at the forefront of the payments industry. Now is the time to start learning more about this important and evolving area for the future of payments.
Federal Reserve Announces Creation of FedNowSM Pilot Program
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.
Follow the Journey to Faster Payments
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.
U.S. Faster Payments Council Names Federal Reserve Officer to Board Advisory Group
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.
Announcing FedNowSM Service Features and Functionality
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.
Progress and Next Steps with FedNowSM Service
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.
Engage on Instant Payments: Join the FedNowSM Community
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.
Collaboration in Action: Federal Reserve Joins U.S. Faster Payments Council
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 …