The following is an excerpt from today’s Global Newsletter.
Today we turn our focus to July and the impending launch of FedNow.
While Twitter is awash with naysayers and confusion about whether the real-time payments network is actually a CBDC (it is not), there’s a flurry of excitement from fintech leaders. Finally, the Fed is doing something substantial to bring the payments and banking system into the 21st century.
Sure to impact traditional finance and fintechs alike, people are bracing for a wave of innovation, taking advantage of the increased speed and access while trying to protect consumers from potentially increased fraud rates.
It’s not the first of its kind in the U.S. (shout out to The Clearing House and Zelle), but hopes are high for adoption.
Watch this space because we could witness the beginning of a new dawn in U.S. payments.
Featured
 USAFedNow brings innovation, fraud concerns, and conspiracy theories By Isabelle Castro Margaroli Government-backed initiatives for real-time payments in the U.S. have lagged behind the rest of the world. However, the long-awaited FedNow is due to launch in a matter of weeks. |
From Fintech Nexus
| Global Kashable and SecureSave partner to support strained employees By Isabelle Castro Margaroli Rising rates and inflation have caused employee financial stress to skyrocket. The partnership could ease some of the strain. |
| USA It’s a rate-shopping environment: Do you have the data to compete? By Mit Shah In today’s rate-shopping environment, it is important for Americans to be able to accurately compare credit products and make the best possible decisions for their financial future. |
Podcast
| The Fintech Coffee Break – Kevin Greene, Tassat I sat down with Kevin to see how Tassat viewed the introduction of a new real-time payment system. Listen Now |
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