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The brand new Government Set aside has just introduced a unique quick payments circle for the Thursday, July 20, 2023 – the fresh FedNowSM Service (FedNow) – to expand the fresh U.S.’ instant repayments capabilities. In this post, we will contrast both big immediate fee rail – RTP and you will FedNow – in more detail. Versus nations and The japanese, the uk, and you can Asia, the new U.S. has been relatively sluggish in the installing a residential network to possess instant payments.

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