Learn from our community of passionate payments experts
ACI Worldwide is among the first in the payments industry to complete testing and certification for the July 2023 FedNow Service launch. To earn this certification, ACI completed a comprehensive curriculum and checklist of requirements, demonstrating the ability to send, receive and process ISO 20022 messages and successfully operate in a 24x7x365 instant payment environment.
Ready or not, today’s world is moving fast
This is your opportunity to take part in the real-time revolution and learn first-hand from our FedNow experts. Discover how ACI Worldwide is powering bank, merchant, and biller payment needs through our exclusive emails, webinars, case studies and more!
On Demand Expert Webinar
Why it’s time for the U.S. to get real
In this webinar, we reveal how financial institutions, merchants and consumers can get the most out of the FedNow instant payments Service and give some practical advice on how to get started.
Our panel of experts will highlight the mounting U.S. momentum for real-time payments, how service providers are central to merchant adoption, how banks can give their customers the best FedNow experience and how other industries can take advantage of FedNow.
The FedNow Service will modernize the U.S. payment infrastructure and provide a range of use cases and benefits to financial institutions, individuals and businesses
“Our early certification is a testament to the years of investment we’ve made in our platform and real-time payment solutions globally. We look forward to working closely with Corporate One and future partners to process real-time payments through the FedNow Service and the ACI Real-Time Payments Cloud solution. We have engaged closely with the U.S. Federal Reserve in the development of the FedNow Service since its inception, and we are honored that ACI Worldwide has been designated by the Federal Reserve as a FedNow Instant Payment Pioneer.”
Craig Ramsey
Global Head of Real-Time Payments, ACI Worldwide
The FedNow service explained: here’s what you need to know
New to the FedNow Service or still learning? Explore this new instant payments service, who is eligible, why it is in development and where the future of instant payments is headed. Explore the questions below or dive deeper on our FedNow Service Guide Page.
What is the FedNow Service?
FedNow is an instant payments service being developed by the United States Federal Reserve Bank (Fed). The FedNow Service, or FedNow for short, is designed to offer uninterrupted 24/7/365 processing and will feature integrated clearing functionality, enabling financial institutions to deliver end-to-end instant payment services to their customers.
Will FedNow replace the ACH Network?
Rather than replace ACH or Same Day ACH, FedNow is expected to provide greater redundancy for payment operations, thereby preventing any potential payment network bottlenecks. In the longer term, the Fed intends to establish payments interoperability between FedNow and ACH.
How is FedNow being rolled out?
Starting this July, the FedNow service will roll out in stages; the initial launch will include core clearing and settlement functionality, Request for Pay capability and tools to support reconciliation.
How will financial institutions benefit from FedNow?
FedNow is expected to: Make instant payments technology accessible to a wider audience, including smaller community banks, thereby increasing equitable access for all businesses and individuals; Reduce overall payment processing costs for banks and other non-bank financial institutions; Provide individuals with instant access to paychecks and other electronic fund transfers for improved cash flow management; Optimize liquidity management and cash flow forecasting for businesses, enabling them to better manage operational expenses and maintain positive vendor relationships; Conform to the new ISO 20022 standard, enabling participants to send and receive rich data, including non-value message types and RfP messages; Promote instant payments security through the development of industry-wide standards for disputing fraudulent transfers, ISO 20022 conformity and the use of payments authentication
How will ACI support FedNow?
In preparation for its target release date, the Fed has asked more than 110 organizations — including ACI Worldwide — to participate in its FedNow Pilot Program. As a program participant, ACI has helped shape FedNow’s features and functions, provided input into the overall user experience and ensured readiness for testing, all of which help define the FedNow service and adoption roadmap, industry readiness approaches and overall instant payments strategy. As a result, ACI has a team of FedNow experts and FedNow-ready solutions to provide support for all FedNow participation types and messages.
Future-Proof with Real-time
Get FedNow-ready
Regardless of where you are in your instant payments journey, take advantage of this real-time opportunity.
ACI has 45 years of payments expertise and customers in 95 countries, including:
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