FedNow instant payments system is topic for Aug. 31 virtual ‘town hall,’ Fed says

A “town hall” on the FedNow service – the new electronic instant payments service officially launched by the Federal Reserve this summer – will be held Aug. 31 and feature representatives from financial institutions already using the service, the agency said Thursday.

In a release, the Fed said the 90-minute virtual event will include panel discussions among current FedNow users, who the agency said would also describe how “they’re supporting a variety of use cases with instant payments.”

The virtual event will also include previews from Fed leaders on what’s next for the FedNow service and “future engagement” opportunities, the Fed said.

There is no charge for the event, although advance registration is required.

In July, the Fed officially announced the launch of the instant payments service, nearly four years after announcing its intention to start a round-the-clock payment facility. However, in that announcement, the Fed made it clear that it would likely be a while before consumers and other will be able to take advantage of a “fully available” service.

FedNow Service Town Hall webinar