Faster payments

We shouldn't have to wait for FedNow to have faster payments

02/28/20

The Fed can take steps now to speed up existing networks.

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The API race, CFPB vs. Citizens, Varo's bank charter: Top stories of the week

02/14/20

Wells Fargo appears to be outpacing its rivals in the API race; CFPB's unexpected showdown with Citizens; Varo gets vital FDIC OK for bank charter; and more from this week's most-read stories.

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‘We want to take the time to get it right’ — Fed’s Montgomery on FedNow

02/12/20

Ken Montgomery, who is heading up the Federal Reserve's faster payments network, says the agency is taking an incremental approach to launching the service.

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Why the Fed is taking an incremental approach to faster payments

02/12/20

To address immediate market demand but allow time for the project to be done right, the official leading implementation of FedNow says the central bank envisions an initial release in 2023 or 2024 followed by subsequent updates.

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BNY Mellon’s early adoption of real-time payments paying dividends

01/27/20

The bank was one of the first users of The Clearing House's RTP network. Andrew Haskell explains how faster payments are helping the bank and its clients.

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Don’t wait around for FedNow

12/02/19

The Fed's real-time payments system won't be up and running for years, but consumers and businesses demand faster payments today.

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How faster payments can connect 'islands of processing' between banks

11/26/19

Interoperability has become a top priority in the minds of those advancing faster payments.

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As faster payments proliferate, is there a business case for banks?

11/20/19

If the deployment of faster payments came with a guarantee to boost a financial institution's bottom line, more banks and businesses would likely invest in bringing their legacy systems into a new age.

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Fed's faster payments network likely ahead of schedule: Powell

11/14/19

The central bank originally predicted FedNow's launch within five years, but the Fed chairman told House lawmakers that he expects it will happen sooner.

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U.S. payments system could use an ally like Libra

11/11/19

China dominates the business. Facebook's proposed cryptocurrency could help alter the balance of power.

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