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Federal Reserve announces FedNowSM Service features and functionality

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.

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Keep up with the latest FedNow news and instant payments education on the FedNow Service page. To help inform the development of the FedNow Service, join the FedNow Community by submitting our participant profile form (Off-site). If you do not want to commit to the FedNow Community but would like to receive the latest FedNow news, please sign up to receive FedNow emails.