WASHINGTON  -The Federal Reserve launched its long-awaited instant payments system on Thursday, bringing the United States in line with other countries from Britain to Brazil where real-time payments platforms already operate. The Fed hopes the FedNow payments service will convince US consumers and businesses to ditch cash and checks, which are still widely used across the country, and embrace the faster payments its system allows. 'The Federal Reserve built the FedNow Service to help make everyday payments over the coming years faster and more convenient,' Federal Reserve Chair Jerome Powell said in a statement.

https://business.inquirer.net/411388/us-fed-plays-catch-up-with-new-instant-payments-system

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