The Federal Reserve’s ongoing Pioneers of Now series highlights leaders from organizations that are early adopters of the FedNow® Service.
Financial institutions and service providers are continuing to prepare for the FedNow(SM) Service. The Pioneers of Now series from the Federal Reserve showcases leaders from these organizations with their progress and perspectives on instant payments implementation.
According to new Federal Reserve studies, a majority of businesses and consumers are already using faster payments, and most are likely to use them more often in the future.
Federal Reserve survey reveals that businesses continue to show strong interest in using faster payments for a variety of transactions.
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.