Payall Payment Systems, Inc. has announced that it is now able to support live transactions on the Federal Reserve’s instant payment rail, the FedNow Service. This development positions Payall as a key service provider for financial institutions looking to offer instant payment capabilities to their clients.
The FedNow Service is a modern payment infrastructure established by the Federal Reserve to enable fast and secure payments between financial institutions. By joining the lineup of service providers for the service, Payall is able to offer financial institutions access to instant payments, helping them stay competitive in the fast-paced financial landscape.
According to Nick Stanescu, executive vice president and chief executive of the FedNow Service, Payall plays a critical role in supporting instant payment capabilities for a diverse range of financial institutions across the country. He adds that this brings them closer to their shared vision of a modern payment experience for all.
To be able to facilitate transactions for financial institutions participating in the FedNow Service, Payall went through a rigorous testing and certification program. The FedNow Service network consists of a diverse range of financial institutions and service providers across the U.S.
Gary Palmer, President and CEO of Payall, expressed his excitement about providing U.S. deposit institutions with fast, easy, low-cost, and safe access to the FedNow Service. He emphasized that safety is their top priority and that their risk, compliance, and other innovations are showcased on the FedNow Service Provider Showcase. These innovations were purpose-built to enable cross-border payments that are safe, transparent, fast, low-cost, and inclusive. He also noted that their capabilities eliminate the trade-offs between faster and safer payments, regardless of the destination – whether to bank accounts, mobile money, digital wallets, cards, or cash globally. And now, with their capabilities for the FedNow Service, they can also include domestic transactions.
Financial institutions and service providers will continue to onboard throughout 2025 and beyond, strengthening the FedNow Service’s instant payment infrastructure across the U.S.
About Payall Payment Systems, Inc.
Payall Payment Systems, Inc. is a company that enables banks and other financial institutions to offer safe, transparent, low-cost, immediate, and inclusive cross-border payments. They have developed a multi-currency global single shared platform as a modular infrastructure to address the different problems faced by originating institutions, correspondent banks, and new alternatives to correspondent banks, intermediate banks, central banks, regulators, domestic payment networks, and liquidity providers. Payall’s capabilities digitize end-to-end counterparty risk management, compliance in multiple jurisdictions, real-time event surveillance and intervention, dynamic transaction decision-making across multiple institutions and countries, and a global gateway that intelligently routes payments to last-mile partners. These partners include domestic bank transfer networks, mobile money operators, digital wallets, and cash networks, reaching up to 95% of the world’s population. Payall’s technology seamlessly integrates with core bank systems and digital bank platforms, or it can operate as a “bank-in-a-box” for a complete digital presence. With Payall, banks and other financial institutions can offer cross-border product experiences that no other bank has ever offered.
Payall is backed by notable investors such as Andreessen Horowitz Fund (A16Z), Ventura Capital, Thomson Reuters Ventures, Motivate Ventures, BAT-VC, Presidio Ventures / Sumitomo Corp, PS27 Ventures, and other industry icons and family offices.
For more information, please visit www.payall.com and follow Payall on LinkedIn and X.
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Adriana Arnaut
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adriana.arnaut@payallps.com
Derick is an experienced reporter having held multiple senior roles for large publishers across Europe. Specialist subjects include small business and financial emerging markets.