Fed’s New Instant Payment System Could Pose Challenges for PayPal and Venmo
Published in
5 min readJul 22, 2023
The US Federal Reserve has recently introduced FedNow, a groundbreaking instant payment system designed to streamline transactions between financial institutions. Initially launched with 35 early-adopting banks and credit unions, the ultimate goal is to integrate more than 9,000 financial institutions across the nation. This ambitious initiative could…
