FedNow Launches: A New Era of Instant Payments
FedNow, the Federal Reserve’s real-time electronic payments system, officially debuts July 14, 2025, providing instant, irrevocable transactions 24/7 nationally. Built on ISO 20022, it offers standard messaging across all participating banks and credit unions. The rollout is expected to match RTP in reach—initially covering ~30% of U.S. accounts, expanding as adoption grows.
For consumers, instant pay means no more waiting for ACH or Fedwire—all payments settle in seconds, even on weekends. Businesses gain same-day, final fund access. Financial institutions can now build services like rapid merchant settlements, same-hour payroll disbursements, and improved liquidity planning.
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