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Federal Reserve to Launch Real-Time Payments System called FedNow by 2024

The U.S. Central Bank will embark on its biggest investment in payments since becoming an ACH operator more than forty years ago. FedNow will be an interbank real-time gross settlement service (RTGS) with integrated clearing. It will support 24/7 real-time transfers of up to $25,000 between any banks in the U.S. and will be available

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Klarna Becomes Largest Private FinTech Company in Europe Following $460 Million Funding Round

Klarna, a payment company offering micro credit for online transactions like PayPal Credit, serves consumers and merchants in Europe and the United States while preparing to launch in Australia and New Zealand. They recently announced an equity funding round raising $460 million, valuing the credit terms alternative payment provider at $5.5 billion. The number of

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JP Morgan to Discontinue Chase Pay for Mobile Contactless Payments

Unable to catch up to Apple, Samsung or Google Play, Chase Pay was used by less than 10 percent of Chase cardholders in the last 90 days, and the mobile app will be discontinued in early 2020. Chase Pay launched in November 2016 and although being discontinued most of its features have been adopted elsewhere.

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