April 26, 2022 (Highland UT) – Open Payment Network (OPN) is excited to present its instant payment innovations at the Nacha Smarter Faster Payments 2022 conference on May 3 at 9:30 am CDT as part of the Federal Reserve’s live FedNow Service Provider Showcase.
The in-person showcase will connect service providers offering instant payment solutions with financial institutions looking to adopt and innovate upon the FedNow Service, a new instant payment platform the Federal Reserve will launch in 2023. The live presentations focus on processors offering services that are a top need for financial institutions preparing for instant payments.
“We’re excited to feature our instant payments solutions and connect with financial institutions about their needs ahead of FedNow Service rollout next year,” said Bradley Wilkes, OPN CEO. “Instant payments are the future, and we are looking forward to helping our financial institution partners bring FedNow-powered products and services to their customers.”
The showcase presentations will take place at the Federal Reserve’s booth, #701. OPN is also profiled in the online FedNow Service Provider Showcase on www.fednowexplorer.org.
“We appreciate the energy and momentum that organizations like Open Payment Network are bringing to enabling FedNow adoption within the instant payments ecosystem,” said Connie Theien, senior vice president and head of industry relations for the Federal Reserve System. “The FedNow Service Provider Showcase presentations are an opportunity for financial institutions seeking to connect with providers to build end-to-end instant payment solutions.”
About Open Payment Network
Open Payment Network™ (OPN) helps financial institutions attract and retain more customers and stay ahead of the competition by enabling them to deliver instant payments anytime, anywhere. By connecting to OPN’s secure technology platform, financial institutions become the gateway for instant payments via Internet and mobile device. The OPN platform integrates with existing core systems and moves payment value and associated data in real time for immediate settlement. Financial institutions can provide access to the OPN API so business customers, fintech developers and internal teams can create applications such as instant mortgage payments, payroll processing, and peer-to-peer payments. Visit www.openpaymentnetwork.us.
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” and “FedLine” are service marks 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 www.FRBservices.org.