The Federal Reserve today announced the anticipated pricing approach for its FedNow Service for instant payments. “We are providing broad information about our pricing approach well in advance of our 2023 launch to support financial institutions and their service providers as they plan for implementation of the FedNow Service,” said Ken Montgomery, Federal Reserve Bank of Boston interim president, chief executive officer and FedNow program executive. “Industry input will continue to help us respond to instant payment needs, further frame out our pricing approach and move toward service launch.” The 2023 FedNow ... (full story)