Why now for FedNow?

Faster payments has been around for some time globally. However, it seems to just be kicking off in the United States. Real-time payments has seen impressive growth in volumes last year. With FedNow joining the arena and its launch mid 2023, adoption across banks is expected to increase.

As more banks join the movement and more payment use cases move to these rails, consumer expectations will grow. We know it’s not simple to join a faster payment service. Banks who aren’t planning to move toward faster payments, will be left behind and likely won’t be able to meet their customers’ demands in the future.