09/09/2023
FedNow is a new instant-payment service backed by the Federal Reserve. It enables customers make and receive payments anytime.
Launched in July 2023, this instant retail payment service comes 7 years after India launched the globally acclaimed UPI.
In today's post, we try to understand how FedNow works and how it is going to affect the U.S. banking system
We hope you find this insightful! Happy learning!