“Last week the Federal Reserve announced plans to move forward on a massive overhaul of the U.S. payments system to achieve faster payments than is currently offered by ACH, and how a new system should be implemented is already a topic for debate.
The Fed has given a nod to the U.K.’s Faster Payments as a successful initiative that it might try to replicate. But replacing the current payments system with a whole new one, like the U.K. is doing, might not be necessary, says Sandra Horn, a principal product manager at ACI Worldwide.”
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