Fed's new instant payments system to launch in July
FILE PHOTO: Federal Reserve Board building on Constitution Avenue is pictured in Washington, U.S., March 19, 2019. REUTERS/Leah Millis/File Photo
The U.S. central bank will launch its "FedNow" instant payment service in July, the Federal Reserve said on Wednesday, with certification and testing for early adopters starting in the first week of April.
Announced in 2019, FedNow will allow banks to instantly transfer payments across the financial system.
Source: Reuters
