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🎉 One Year of FedNow: Instant Payments, Instant Insights! 🚀 Time flies in real-time! It’s been a year since the U.S. government launched FedNow, and I had the honor of joining the Wharton Fintech Podcast to chat with Nick Stanescu from the Federal Reserve Bank of Boston and Carlos Eduardo Brandt from Banco Central do Brasil. (➡ podcast link in comments!) I’ve distilled the learnings into my latest Forbes post. https://lnkd.in/gXiCcdnZ Here are some highlights: 📈 𝗠𝗮𝘀𝘀 𝗰𝗼𝗻𝗻𝗲𝗰𝘁𝗶𝘃𝗶𝘁𝘆 𝘄𝗶𝗹𝗹 𝘁𝗮𝗸𝗲 𝗮 𝗹𝗼𝗻𝗴 𝘁𝗶𝗺𝗲…With 900 financial institutions live on FedNow, we’re on a fast track— closer to five years away from widespread adoption instead of ten! 💲𝗠𝗲𝗿𝗰𝗵𝗮𝗻𝘁 𝗶𝗻𝗰𝗲𝗻𝘁𝗶𝘃𝗲𝘀: 𝗖𝗼𝘀𝘁 𝘀𝗮𝘃𝗶𝗻𝗴𝘀 𝗮𝗹𝗼𝗻𝗲 𝗮𝗿𝗲𝗻’𝘁 𝗲𝗻𝗼𝘂𝗴𝗵. Real-time payments need to boost conversion, loyalty, and customer satisfaction to win merchants over. 💸 𝗕𝗮𝗻𝗸 𝗶𝗻𝗰𝗲𝗻𝘁𝗶𝘃𝗲𝘀: 𝗛𝗼𝗽𝗽𝗶𝗻𝗴 𝘁𝗵𝗲 𝗿𝗲𝘃𝗲𝗻𝘂𝗲 𝗵𝘂𝗿𝗱𝗹𝗲. Banks see cost savings (checks, cash, ATM) but worry about lost revenue from traditional payment methods (wire, credit card interchange fees). Will FedNow steal the show? 🔐 𝗦𝗲𝗰𝘂𝗿𝗶𝘁𝘆 𝗶𝘀 𝗮 𝗺𝗼𝘃𝗶𝗻𝗴 𝘁𝗮𝗿𝗴𝗲𝘁. Real-time payments mean real-time security challenges. From social engineering to physical robbery, the threats evolve as fast as the payments. Do you know the Brazilian Public Security Yearbook counted around 1M phone robberies last year? 📱 𝗧𝗮𝗽-𝘁𝗼-𝗣𝗮𝘆 𝗰𝗼𝘂𝗹𝗱 𝗹𝗲𝘃𝗲𝗹 𝘁𝗵𝗲 𝗽𝗹𝗮𝘆𝗶𝗻𝗴 𝗳𝗶𝗲𝗹𝗱 𝗳𝗼𝗿 𝗼𝗳𝗳𝗹𝗶𝗻𝗲 𝗣𝗼𝗦 𝗽𝗮𝘆𝗺𝗲𝗻𝘁𝘀. With Apple enabling tap-to-pay and Face ID to non-Apple wallets in EU and NFC's new multi-purpose tap (pay for goods check ID loyalty points digital receipt), offline POS payments are about to get a major upgrade. Dive into the full discussion on my Forbes post and the podcast. Let’s keep the real-time conversation going! 😉 #FedNow #Oneyear #RealTimePayments #InstantPayments #RTP #Fintech #Podcast