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Policy & Legal, Research

FedNow & The Impact of Real-Time Payments in the U.S.

Hugo Dante, Financial Services Policy Analyst, Vice President

John Sonsalla, SVP and Head of Strategy

26 July 2023

Summary

We believe it is not a question of if, but rather to what extent and how quickly the just-launched FedNow real-time payments (RTP) network will pressure volumes and fees on payment networks [Visa (V), Mastercard (MA)], as well as the fee income of banks [Wells Fargo (WFC), Synchrony (SYF), Greendot (GDOT)], check cashing and bill pay services providers

Want to learn more? Download the Report.

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Identify opportunity and risk driven by public policy and the courts.

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