June 2022 – Change is proud to be featured in the Federal Reserve’s FedNow Service Provider Showcase, an online resource designed to connect financial institutions looking to adopt and innovate upon the FedNow Service with service providers offering instant payment solutions.
“We’re thrilled to be part of the FedNow Service Provider Showcase and look forward to helping other organizations implement instant payments,” said Brian Hodgdon Vice President of Business Development . “With our solutions, financial institutions will be able to access the speed, convenience and other benefits the FedNow Service will provide when it launches in 2023.”
Change plans to offer the following instant payment services to organizations that are adopting the FedNow Service:
“We appreciate the commitment of Change Financial to enabling FedNow adoption and participating in the showcase,” said Nick Stanescu, Federal Reserve Bank senior vice president and FedNow business executive. “The time is now for organizations to identify and connect with partners they’ll need to build the end-to-end solutions the market is demanding.”
About Change Financial
Change Financial (Change) is an experienced global fintech, listed on the Australian Securities Exchange (ASX) providing tailored payment solutions, card issuing and testing to banks and fintechs. Partnering with over 150 clients across 41 countries Change delivers simple, flexible, and fast-to-market payment solutions.
Managing and processing over 16 million credit, debit, and prepaid cards worldwide, Change also provides the default standard for payments testing for many Australian companies, including Australia’s domestic card payment service eftpos.
Learn more about Change at www.changefinancial.com
About the FedNow Service
The Federal Reserve Banks are developing the FedNow Service to facilitate nationwide reach of instant payment services by financial institutions — regardless of size or geographic location — around the clock, every day of the year. Through financial institutions participating in the FedNow Service, businesses and individuals will be able to send and receive instant payments at any time of day, and recipients will have full access to funds immediately, giving them greater flexibility to manage their money and make time-sensitive payments. Access will be provided through the Federal Reserve’s FedLine® network, which serves more than 10,000 financial institutions directly or through their agents. For more information, visit FedNowExplorer.org.
“FedNow” is a service mark of the Federal Reserve Banks. A list of marks related to financial services products that are offered to financial institutions by the Federal Reserve Banks is available at FRBservices.org.