July 20, 2023 – The (FPC), a membership organization devoted to advancing safe, easy-to-use faster payments in the United States, today shared that 23 FPC Members have completed formal testing and certification of FedNow®. The highly anticipated FedNow Service was officially launched by the Federal Reserve today.
“The launch of the FedNow Service is a watershed moment for the U.S. payments system. The service will enable innovation and help unlock the potential of a 21st-century digital economy,” said FPC Executive Director Reed Luhtanen.
“Our members were happy to participate in the successful FedNow pilot and excited to be moving on to production. As CEO of North American Banking Company, we are looking forward to using the FedNow Service to better serve our customers and help with their faster payments strategy,” said FPC Board Chairperson Michael Bilski.
The FPC Member organizations that have completed certification in the FedNow Service include:
The FPC prioritizes inclusion of diverse perspectives in tackling complex topics such as interoperability, identifying real-world solutions that can ease adoption of faster payments, managing security risks and fraud threats, addressing barriers to financial inclusion and cross-border payments, and more, as the organization paves the way toward a future of faster payments for all.
For more information on the FPC, its current work efforts or to join, visit .
U.S. Faster Payments Council
About the U.S. Faster Payments Council (FPC)
The FPC is an industry-led membership organization whose vision is a world-class payment system where Americans can safely and securely pay anyone, anywhere, at any time and with near-immediate funds availability. By design, the FPC encourages a diverse range of perspectives and is open to all stakeholders in the U.S. payment system. Guided by principles of fairness, inclusiveness, flexibility and transparency, the FPC uses collaborative, problem-solving approaches to resolve the issues that are inhibiting broad faster payments adoption in this country. For more information, please visit .