What Is the Fednow Service and How Does It Work?
The Federal Reserve will soon launch the FedNow Service. This new service will facilitate instant payment services by financial institutions every day of the year.
Source: marketrealist.com
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Federal Reserve Launches FedNow Service
Federal Reserve reported instant payment service FedNow will be available for all participating financial institutions to use starting in July 2023. Access to the service will be provided through the Federal Reserve’s FedLine network, serves 10000 financial institutions.
Source: natlawreview.com