Instant Payments
What Are Instant Payments?
Instant payments are modern, digital payments that allow transactions to settle and clear in real time, providing consumers and businesses with immediate access to funds. The Federal Reserve offers instant payments infrastructure to financial institutions and their service providers through the FedNow® Service.
Real Time Settlement
Instant payments settle and clear in real time, eliminating delays associated with traditional payments.
Always Available
Today’s instant payments services run continuously – every day of the year – unlike legacy systems that operate only during business hours.
Secure and Reliable
Modern technology and robust security protocols ensure trust and transparency in all transactions.
The FedNow® Service
The Federal Reserve’s FedNow® Service provides safe and efficient instant payments services in near real time, around the clock, every day.
- The FedNow® Service continues the Federal Reserve’s historical role of delivering payments services alongside private-sector providers.
- It offers the market another choice for clearing and settling instant payments, and it promotes resiliency through redundancy.
- Financial institutions and their service providers can use the service as a springboard to provide innovative instant payments options to customers.
Inclusive Payments Resource Center 
Instant payments provide new opportunities to reach unbanked and underbanked households. The Inclusive Payments Resource Center offers information to help organizations better understand these populations, the financial services they rely on, and what they value in their payment experiences.