The Federal Reserve Board officially approves bringing instant payments to the US. "The FedNow Service, alongside similar services provided by the private sector, will modernize the U.S. payment system and bring the benefits of instant payments broadly" https://www.federalreserve.gov/newsevents/pressreleases/other20200806a.htm …
Sweet! Do we know already whether FedNow will use ABA routing and account numbers? I guess so, but that would severely limit its usefulness for consumers given the lack of ACH pull mandates…
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I don't. Not sure if that level of technical detail is really figured out yet.
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