Tuesday , November 12, 2019

Search Results for: fednow

Big Retailers Anticipate FedNow Will Bring Competition to Payments

A retail trade association as well as Target Corp. have endorsed the Federal Reserve’s planned FedNow real-time gross settlement service. In a letter posted last week on the official FedNow comment site, the Washington, D.C.-based Retail Industry Leaders Association said “over the past decades RILA has seen competition and innovation …

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The Fed Wants To Get FedNow Into Market Quickly, But Hasn’t Changed Its Rollout Schedule

Two senior Federal Reserve officials said Tuesday they are committed to rolling out the proposed FedNow real-time payments service as quickly as possible, but they didn’t say the original schedule calling for a launch in 2023 or even 2024 will be shortened. “We will be making every effort, I think, to …

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Pricing Is Top FedNow Inquiry and other Digital Transactions News briefs from 10/1/19

The Federal Reserve, which is taking industry comments on its upcoming FedNow real-time payments network until Nov. 7, said common questions so far involve pricing and the scope of the service. The first question can’t be answered yet, and the second touches on services that will be designed by financial institutions building on top …

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For FedNow, a Lot More Questions Than Answers

It’s still at least three years off, but it’s none too soon for bankers and payments executives to be wondering exactly how the Federal Reserve’s planned FedNow real-time payments service will shape up. What will be the pricing, what about disputed transactions, and just what exactly is a real-time payment, …

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Pricing, Disputed Transactions Among Undetermined FedNow Issues

The Federal Reserve’s proposed FedNow real-time payments service won’t be live for more than three years, but bankers and other interested parties peppered two Fed officials with plenty of questions about it Monday. The occasion was a 90-minute webinar in which the officials reviewed the ambitious FedNow plans unveiled last …

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It’s Official: The Fed Is Jumping Into Real-Time Payments With FedNow

Ending months of speculation, the Federal Reserve confirmed Monday it will launch a real-time payments service by 2023 or 2024. The banking regulator, which also published Monday a notice in the Federal Register outlining its plan and requesting comment, will thus take what it says is its biggest move in …

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