SHAZAM selected to help shape the future of instant payments
posted on Tuesday, February 16, 2021 in SHAZAM Blog
We’re excited to share that SHAZAM has been selected to participate in a pilot program to guide development of the Federal Reserve’s instant payments offering, the FedNowSM Service. FedNow will offer community financial institutions another network through which to access faster payments infrastructure.
The FedNow Service will provide an important payments infrastructure when it becomes available in 2023. Financial institutions and their service providers will be able to use the service as a springboard to bring the benefits of safe, efficient instant payments to communities across the country.
“We look forward to working with the Fed as they develop their first major new payment system in four decades,” said Paul Waltz, SHAZAM’s President and CEO. “We expect our input will further define the service and adoption roadmap, industry readiness approaches and overall instant payments strategy for the community financial institutions who depend on us to ensure they’re on the competitive edge of payments.”
Click here to read the entire news release on SHAZAM Company News. Feel free to repost to your own social media and other communication channels.
Tags
- commitment
- network selection
- real-time payments
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