Federal Reserve Board Governor Lael Brainard marked a milestone earlier this month when she announced the FedNow Service’s features and functionality. Brainard was accompanied by Kansas City Fed President Esther George and FedNow Program Executive Ken Montgomery for the August 6 livestreamed announcement (Off-site), reflecting the Federal Reserve’s efforts toward establishing an infrastructure that will support instant payments in the United States.

 

Industry feedback and in-depth analysis, including over 180 comment letters (Off-site) in response to the August 2019 Federal Register notice (Off-site), helped drive the FedNow Service features and design.

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As part of this announcement, we also unveiled the below FedNow visual identity, which you will see in future FedNow communications.

FedNow Instant Payments

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