The MBS FedNow process allows users to decide if they would like to allow only credit-based transactions or if they would like to allow both debit and credit-based transactions.
Pidgin has an innovative and user-friendly application that may be accessed by your customers to streamline the process. If you’re interested in offering the FedNow process to your customers, please reach out to your MBS sales representative for additional information.
The FedNow Service is a new instant payment infrastructure developed by the Federal Reserve that allows financial institutions of every size across the U.S. to provide safe and efficient instant payment services.
Through financial institutions participating in the FedNow Service, businesses and individuals can send and receive instant payments in real time, around the clock, every day of the year. Financial institutions and their service providers can use the service to provide innovative instant payment services to customers, and recipients will have full access to funds immediately, allowing for greater financial flexibility when making time-sensitive payments.
For more information, talk to your sales rep.