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Real-time payments and a potential central bank digital currency are different initiatives, but many bank customers get them mixed up. To promote acceptance of FedNow, banks must distinguish between these new technologies as well as dispel the myths and fears linked to CBDCs.
November 30 -
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Three months after the instant payment network went live, users and former Fed staffers say the rollout is going as expected. But the key to wider use depends on banks and their customers figuring out what to do with it.
October 23 -
Brazil's PIX network has sparked a venture-capital boom in an otherwise down economy, including interest from U.S. investors.
October 23 -
Because instant settlement is irreversible, companies like Orum expect to see demand for systems that can vet recipients within seconds.
October 18 -
California-based Star One is sharing its experience with smaller banks and credit unions, in an effort to get more to offer the government-backed real-time payment rail.
October 16 -
It's hard to see FedNow as a revolutionary solution because it's not actually much newer, faster or cheaper in many cases than existing payment services.
August 22Stampli -
More than 1,000 users reported problems making payments on Tuesday before complaint volumes tapered around midday, according to DownDetector, a site that collects user outage reports. The internal network disruption comes on the heels of another Zelle outage JPMorgan Chase took responsibility for seven days ago.
August 1 -
The bank hasn't explained why person-to-person payments, bill processing and account-transfer services went down for parts of two days this week. But observers suspect glitches in its legacy systems could occur at other financial institutions and increasingly affect real-time payment networks.
July 27 -
Wells Fargo leads $70 million funding effort targeting credit-challenged entrepreneurs; PayPal adds Tap to Pay for Venmo, Zettle; Amex names new CFO to succeed retiring veteran finance chief and more in this week's banking news roundup.
June 30