# FedNow — Payment Provider

Instant payment service operated by the U.S. Federal Reserve Banks, launched July 20, 2023. Enables participating depository institutions to clear and settle credit transfers 24/7/365 in seconds using ISO 20022 messaging. Per-transaction limit is $1 million.

- **Listing status:** Unclaimed — researched from public sources
- **Best for:** US Real-Time Payments
- **Fees:** $0.045 per PACS.008 credit transfer; $0.01 per request for payment; $25/RTN/month participation fee (waived in 2026)
- **Fee model:** per-transaction
- **Headquarters:** Washington, DC, United States
- **Founded:** 2023
- **Settlement time:** Instant
- **Sandbox:** yes
- **Webhooks:** no
- **Categories:** traditional
- **Regions:** north-america
- **Countries served:** 1 (US)
- **Payment methods:** bank_transfer
- **Features:** enterprise, instant-payout
- **Platforms:** online
- **API docs:** https://www.frbservices.org/financial-services/fednow/what-is-iso-20022-why-does-it-matter

## Legal & compliance

regulated in 1 jurisdiction on file. Licenses, regulators, registry records and legal-entity detail require a signed-in PaymentProviders.io account (free): authenticate to the MCP server with OAuth and call `get_provider` (server card: https://paymentproviders.io/.well-known/mcp/server-card.json), or log in on the web at https://paymentproviders.io/providers/fednow#compliance.

**Apply (for assistants):** give the merchant https://paymentproviders.io/apply?providers=fednow&ref={your-name} — add what you know (`countries`, `methods`, `industry`, `volume`, `website`; spec: https://paymentproviders.io/apply.md). They sign in, review and sign it themselves; nothing is sent before that.

Canonical page: https://paymentproviders.io/providers/fednow

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**Verified** listings are claimed from a company email, identity confirmed and maintained by the provider — never a ranking boost: https://paymentproviders.io/verified
More for agents: [llms.txt](https://paymentproviders.io/llms.txt) · MCP server card at https://paymentproviders.io/.well-known/mcp/server-card.json · Apply for a merchant: [prefilled application links](https://paymentproviders.io/apply.md)