Together, instant payments and an electronic delivery network – known as an exchange framework – present a significant opportunity for businesses to increase the speed and efficiency of electronic B2B payments.
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.