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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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FIS Acquires Clear2Pay, Possibly to Speed Up Development of Payment Network ACH Alternative

FIS Inc. announced the acquisition of Brussels-based payment technology company Clear2Pay for €375 ($493.3) million in early September. While the company announced the investment would bolster global payment capabilities and enhance enterprise payments solutions, the most interesting aspect of the acquisition may be the fact that FIS offers a real-time funds transfer service called PayNet

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