NEWS on Payments

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ICBA Timeline Details Real-Time Payments

Aug 08, 2019
A new ICBA timeline details the debate over faster payments that culminated in this week's Federal Reserve announcement that it will develop a service to support real-time payments.

Going back to 2011, the timeline focuses on key milestones and illustrates ICBA's consistent support for a faster payments system that ensures access and choice for community banks.

The launch of the FedNow Service—the Fed’s first new set of payments rails in 40 years—follows a comprehensive ICBA advocacy campaign encouraging Fed involvement in real-time payments.

ICBA applauded the Fed on the announcement, which will ensure universal access to real-time payments, avoid a monopoly and encourage future innovation.

View ICBA Timeline