Federal Reserve to launch instant payment service 'FedNow' (A Fee Service)

Snippet of Article: "The instant payment network will settle payments in seconds, with the capability to support consumer-to-consumer, consumer-to-merchant, merchant-to-merchant, and bank-to-bank transactions. "With the FedNow Service, the Federal Reserve is creating a leading-edge payments system ...we urge financial institutions and their industry partners to move full steam ahead with preparations to join the FedNow Service...You Can Download: FedNow Service Readiness Guide (Off-site) ...FedNow Service 2023 Fee Schedule"

Source: www.aol.com

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