15:19 - 21.07.2023

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July 21, Fineko/abc.az. The U.S. Federal Reserve System (FED) has officially launched its FedNow instant payment system in real time, ABC.AZ reports, referring to the FED.

"The Fed has created FedNow service so that daily payments will be faster and more convenient in the coming years," the report says.

According to the regulator, 35 banks and credit unions, as well as 16 service providers will participate in the project at the initial stage. Among them are JPMorgan Chase, Bank of New York Mellon and US Bancorp. Later, the initiative is planned to be significantly expanded.