FedNow

FedNow Service
Product typeInstant payment service
OwnerFederal Reserve
CountryUnited States
Introduced20 July 2023 (2023-07-20)
Websitewww.frbservices.org/financial-services/fednow

FedNow is an instant payment service developed by the Federal Reserve for financial institutions in the United States, which allows individuals and businesses to send and receive money. The service launched on July 20, 2023. Financial institutions are able to build products on top of the FedNow platform. By 2025, over a thousand financial institutions were live on the service.

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