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FedNow® Service has launched!
"It‘s a big day in payments news – the FedNow Service is now live!
On July 20, 2023, the Federal Reserve announced the landmark instant payment infrastructure has launched with 35 participating financial institutions, the U.S. Department of the Treasury’s Bureau of the Fiscal Service and 16 service providers.
The new FedNow Service enables participating U.S. banks and credit unions to safely and efficiently transfer funds instantly — any day, at any time — on behalf of their customers."
