FedNow, a faster payments network designed by the Federal Reserve, is nearing launch in 2023 and this is a great explainer/history post.
The US lags far behind the rest of the world in faster payments.
FedNow could change that (or not) – it for one is cheaper than existing competitors.
There is also this chart, showing adoption rates of faster payment systems around the world – those that launched recently had faster adoption (especially if helped along by regulators).
