Payall Payment Systems has started facilitating live transactions through the Federal Reserve’s instant payment rail, known as FedNow Service.
By integrating with this service, Payall aims to help financial institutions enhance their transaction capabilities, ensuring they can offer fast and reliable payment solutions to customers. This move is part of an effort by Payall to support banks and other regulated entities in providing safe, transparent, and low-cost cross-border payments.
Instant Payment Solutions for Financial Institutions
To enable participation in the FedNow Service, Payall had to go through a rigorous certification process. This ensures that financial institutions can benefit from fast and easy access to instant payments. The company’s focus on safety includes digital counterparty risk management, real-time transaction monitoring, compliance support, intelligent routing, and a comprehensive global payments gateway.
Payall’s infrastructure is designed with first principles in mind, allowing for inclusive and cost-effective cross-border transactions via bank accounts, mobile money, digital wallets, cards, or cash. As more financial institutions and service providers join the FedNow Service over the next few years, it will further strengthen the instant payments ecosystem across the United States.
