The evolution of Brazil’s own instant payments system, Pix, shows how FedNow could ultimately create new opportunities for banks to make money in payments and encroach on credit cards. FedNow, the US payments system that enables instant money transfers, 24/7, is finally here. The US has lagged woefully behind other countries on instant payments and, […]
Tag: FedNow
The FedNow network and the Consumer Financial Protection Bureau’s upcoming data-access proposal will usher in faster payments and open banking, which will level the playing field for smaller banks and give customers much more flexibility in switching. This, in turn, will spur institutions to step up their retention efforts. This year will bring two important landmarks […]