Federal Reserve Launches 'FedNow' Instant Payment System
The US Federal Reserve has officially launched its FedNow instant payment system. The government agency announced the arrival of the system on Thursday, and as the official press release notes, it has now gone live with 35 banks and credit unions currently using the service. The FedNow instant payment service is described by the Fed as a tool for banks to use “to instantly transfer money for their customers, any time of the day, on any day of the year.” Moreover, the system has long been discussed, finally making its debut today. JUST IN: 🇺🇸 Federal Reserve officially launches ' FedNow ' instant payment system. — Watcher.Guru (@WatcherGuru) July 20, 2023 Also Read: Could the Government Freeze Bank Accounts Through FedNow ? Federal Reserve Announced FedNow Launch The Federal Reserve has officially launched its highly-discussed FedNow instant payment system. Indeed, a press release noted that the service has gone live at 35 f...