Federal Reserve announces plan to develop a new round-the-clock real-time payment and settlement service to support faster payments

The rapid evolution of technology presents a pivotal opportunity for the Federal Reserve and the payment industry to modernize the nation’s payment system and establish a safe and efficient foundation for the future. The Federal Reserve believes faster payment services, which enable the near-instantaneous transfer of funds day and night, weekend and weekdays, have the potential to become widely used and to yield economic benefits for individuals and businesses by providing them with more flexibility to manage their money and make time-sensitive payments.

Read more on federal reserve

Related Post

2019-08-07T09:14:40+05:30August 7th, 2019|Categories: FIAKS daily, Regtech, Regulator|Tags: |Comments Off on Federal Reserve announces plan to develop a new round-the-clock real-time payment and settlement service to support faster payments
Subscribe
SUBSCRIBE NOW

Join our weekly Newsletter Today

Stay updated with all latest updates,upcoming events & much more.
close-link
close-image