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Tag: FedNow characteristics

Federal Reserve Officially Launches Its Instant-Payments Service “FedNow”

FedNow, an instant-payments service by Federal Reserve, officially launched on Thursday. The 24-hour, 365-days-a-year service aims to help individuals and businesses send and receive money faster than ever before. Announcing the launch of FedNow, Federal Reserve Chair Jerome H. Powell said that the Fed developed...