The Federal Reserve’s new instant payments system is confronting disinformation as it gears up for a launch, likely late next month.
To foster the adoption of the FedNow instant payments system that will launch next month, the Federal Reserve has embarked on a major marketing and education campaign.
That monthslong effort by the central bank is geared toward encouraging financial institutions of all sizes, and especially smaller community banks, to embrace the first new U.S. payments system in four decades. But it’s also now serving to counter conspiracy theories deriding the instant payments system as a government power grab.