My last blog on topic was less than a month ago Real Time Payments in US – Strategic Shifts (Jan 2023), and also FedNow (Dec 2021). Will thus keep this blog to summary bullets. 

• FedNow launching this summer with almost 100% of US merchant focused banks participating. At launch, both credit and debit ( Request for Payment -RfP) transactions will be supported.
• Great summary interview last week from FRB’s Mark Gould
• Back in 2013, the Fed requested comments on a real-time payment system. In general, consumers don’t seek to pay their bills faster, nor do consumers have issues in receiving their payroll deposits late. The card environment works very well, particularly for debit. Emergency bill payment has been the only well-defined consumer need for speed (see Starpoint’s 2013 response to Fed).