Credit/Shutterstock
While FedNow, the instant payment system introduced by the Federal Reserve, was unveiled with much fanfare, it's important to put its launch into context. FedNow follows the footsteps of similar payment infrastructure programs such as FedWire, Automated Clearing House, and private sector offerings like Venmo and PayPal.
While the success of FedNow remains to be seen, there is no denying that consumer preferences for instant payments – domestically and globally – are on the rise. Credit unions have a unique opportunity to seize on increasing consumer demand and the momentum spurred by FedNow to reevaluate their global remittance payment infrastructure.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
