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100%
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Keyword: instantpaymentsvc

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  • Fed launches new payments system that lets you send money in seconds

    07/20/2023 8:51:27 AM PDT · by devane617 · 55 replies
    Yahoo ^ | 07/20/2023
    The Federal Reserve Thursday officially launched its long-awaited instant payment service FedNow, which allows consumers and businesses to send and receive money in seconds. The system lets Americans pay for groceries instantly, businesses pay their suppliers, or people pay each other. It will be available 24 hours a day, every day of the year, with full access to funds immediately. FedNow isn’t offered directly to individuals and businesses, but it will serve as the basis of infrastructure for instant payments by linking banks. Transactions occur between bank accounts and enable funds to be transferred from a sender’s bank account to...