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The Federal Reserve could help instant payments catch on

Aug 2, 2023
Many small banks have been hesitant to offer instant payments, even though they’ve been available for years. But the central bank’s FedNow service could cause more banks to give instant payments a try.
A couple of weeks ago, the Federal Reserve launched FedNow, a new payment service that allows people to send and receive money instantly.
Daniel Slim/AFP via Getty Images