The Government’s First Instant Payment Service Launches Soon

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 Money transfers and bill payments will happen instantly, even on weekends and holidays. rafapress / Shutterstock.com

The nation’s central banking system — the Federal Reserve — is gearing up to release the government’s first real-time payment service. It’s called FedNow. Money transfers and bill payments will soon be much faster, almost instantaneous, through FedNow, which is expected to roll out later this month via dozens of banks and financial institutions. “What FedNow will do is it will enable all the banks…

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