FedNow is a real-time secured payment and settlement service by the Federal Reserve in the United States. Announced in 2019, this service aims to enable US-based financial institutions to provide their customers with the ability to send and receive payments instantaneously, 24/7/365, securely. The traditional banking system in the United States typically involves a delay between when a payment is initiated and when the funds are available in the recipient's account. This can lead to inefficiencies, especially outside of regular banking hours. FedNow is designed to address these challenges by providing a real-time payment infrastructure for immediate fund availability, payment finality, and continuous service. It aims to support various payment use cases, including person-to-person, business-to-business, and more. The Federal Reserve intends with FedNow to promote competition, efficiency, and inclusiveness in the payment system by providing a public option for real-time payments. It is also expected to serve as a backbone for future payment innovation, fostering new services and capabilities that can leverage real-time functionality. FedNow is anticipated to be interoperable with other real-time payment services, allowing for broad participation across various financial institutions and service providers. The Federal Reserve has been engaging stakeholders, including financial institutions and technology providers, to shape the service. People interested in real-time payment services, modernizing financial infrastructure, or the broader direction of payment technologies should keep an eye on FedNow as it represents a significant step in the evolution of the U.S. payment system.