Study reveals pandemic is spurring business demand for faster payments

A new Federal Reserve study found that nearly half of American businesses indicate the pandemic is causing them to accelerate their plans for faster payments adoption. Nine in 10 expect to be able to make and receive faster payments within three years, which coincides with the timeline for the FedNow Service, a new instant payment infrastructure coming in 2023. View the full report here (Off-site).

Key Findings of Federal Reserve Market Readiness Brief: Businesses Find Value in Faster Payments (Off-site)
Click on the image to access the Federal Reserve Market Readiness Brief

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