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FedNow’s Montgomery: Gearing Up For 2023-24 — And Instant Payments Competition

PYMNTS

In an interview with Karen Webster, Boston Federal Reserve Chief Operating Officer and FedNow Program Executive Ken Montgomery said the central bank’s ambitious payments initiative remains on track — and will inject competition into the instant payments market. The Timeframe . How does one then turn that into cash?

Payments 244
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Now is the time to prepare for the FedNow launch

Independent Banker

The FedNow Service is launching in early 2023, giving community banks about a year to plan. 2022 will be a big year as we move from development to pilot testing and begin to engage more with financial institutions in active planning,” says Nick Stanescu, senior vice president, FedNow business executive, the Federal Reserve Bank of Boston. “We

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TRENDING: mPOS And Transit: Where’s The Fit?

PYMNTS

That kind of growth is slated to continue, with researchers predicting that by 2023, the volume of mPOS transactions will increase threefold over an estimated 28 billion in 2018. Meanwhile, in the United States, mPOS is making its presence known among commuters in the Boston area. Adopting mPOS for a Smoother Commute.

Trends 105
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Football Season To Kick Off New Payments Plays

PYMNTS

According to Zach Hensley, vice president of operations and guest experiences for the Seahawks and CenturyLink Field, these services are changing how fans experience live games and boosting their overall enjoyment. For the 2019 NFL season – PYMNTS is based in Boston, so Go Pats! –

Payments 161
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In-Store Kiosks A Sign Of QSR Innovation

PYMNTS

There’s a rule of thumb at fast food and quick-serve restaurants (QSR): a seven-second reduction in customer wait time results in an average 1 percent gain in market share. The restaurant, Spyce , is set to open this spring in central Boston. By 2023, the size of the interactive kiosk market is projected to be $34.1

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What Amazon HQ2, Interchange Fees And Facebook Have In Common

PYMNTS

That’s the only way the business can ultimately continue to create value for its customers, create jobs for people, serve the ecosystem in which it operates and provide tax revenues. It has also spurred other businesses to follow its lead, irrespective of whether Amazon is even a relevant player in the ecosystem in which it operates.

Cards 169
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Efficiency now: 8 smart strategy tips

Independent Banker

In 2022, things changed with whiplash speed, as the Fed hiked interest rates to quell inflation, the mortgage refinance market dried up and the effects of macro changes, from the Russian invasion of Ukraine to a talent shortage, began to be felt keenly. But with a handful of branches in a market, you can accomplish quite a bit.”. ?

Strategy 135