Payments News

Wait, What Did the Fed Just Say About Real-Time Payments?

Oct 05, 2018

I ’ve just returned from the Federal Reserve’s inaugural FedPayments Improvement Community Forum in Chicago, and the impact of announcements made there are starting to sink in; the importance of next steps in the development of faster payments in the U.S. is now the focus.  The most intriguing announcement as articulated in a press release from the Federal Reserve was this:

The Federal Reserve Board on Wednesday invited public comment on actions the Federal Reserve could take to support faster payments in the United States. The potential actions, which would facilitate real-time interbank settlement of faster payments, build on collaborative work with the payment industry through the Federal Reserve System’s Strategies for Improving the U.S. Payment System (SIPS) initiative.

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