Fed’s Zelle-like instant payment system to go live in July, hundreds now testing

Photo credit: Andrei Barmashov via Getty Images. Article by Lucas Mearian. Computerworld – April 17, 2023.

The US Federal Reserve (Fed) is preparing to launch a new financial network that would eliminate any wait time for sending and receiving payments. The system is now being tested by more than 100 market participants. The FedNow Service, which has been in pilot since Jan. 2021, is planned to launch in July. […]

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