The Fed's Instant Payment Transactional Service

JPMorgan Chase and 40 other US banks are acting on the Federal Reserve's payment plan. According to a new Federal Reserve press release, some 40 banks and over a dozen service providers are wrapping up FedNow test trials ahead of official launch in late July. Other large banks testing the service to start using it in July, those using it right away, are the Bank of New York Mellon.