The Federal Reserve said FedNow transaction volume grew more than 80% from the first quarter to the second.
Details: In a newly released infographic and statistics report, the Fed says the average daily volume of settled payments grew from 30,317 in the first quarter to 54,921 in the second quarter, though the growth of payment values slowed.
ICBA View: ICBA has long supported the growth of instant payments options like the FedNow Service to allow for efficient payments and immediate funds settlement while mitigating risks to the financial system.
