Payments News

The Federal Reserve must develop a real-time payments rail

Jul 31, 2019

Customer experience throughout one’s shopping experience is a priority for merchants. Competition, transparency, choice, security, safety, and balanced liability all play an important role in merchants’ payments considerations as they seek to make the customer’s payment experience fast and easy. 

The Federal Reserve Bank recently solicited comments regarding their efforts to develop faster payments through a real-time gross settlement. As evidenced by the Merchant Advisory Group’s comments to the Fed, merchants support the Fed’s efforts and believe that their involvement will inject competition into the market and offer merchants choice as they weigh their payments acceptance options.

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