Future Tech

Fed's new instant payments system to launch in July

Tan KW
Publish date: Thu, 16 Mar 2023, 10:11 AM
Tan KW
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Future Tech

The U.S. central bank will launch its "FedNow" instant payment service in July, the Federal Reserve said on Wednesday, with certification and testing for early adopters starting in the first week of April.

Announced in 2019, FedNow will allow banks to instantly transfer payments across the financial system.

 


  - Reuters

 

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