FedNow Service Readies Cross-Border Capabilities and Request for Payment Pilot

Three years after the Federal Reserve launched the FedNow® Service , the instant payment infrastructure serves 1,800 financial institutions, including seven of the 10 largest banks, and reaches over half of all U.S. “With strong, double-digit volume growth and billions in value transacted every day, plus new use cases continually hitting the market, instant payments are accelerating toward the mainstream,” Nick Stanescu , executive vice president and chief FedNow e