Payall Payment Systems, Inc. announced it can now support live transactions on the Federal Reserve’s instant payment rail, the FedNow Service. Payall joins a lineup of service providers facilitating transaction activity for financial institutions on the service.
Through the FedNow Service, Payall is positioned to offer financial institution customers access to instant payments, helping them remain competitive and offer best-in-class service for their customers.
“As a service provider of the FedNow Service, Payall Payment Systems plays a critical role in supporting instant payment capabilities for a diverse range of financial institutions across the country,” said Nick Stanescu, executive vice president and chief executive of the FedNow Service. “This widespread reach brings us that much closer to our shared vision of a modern payment experience for all.”
To support transaction activities for financial institutions participating in the FedNow Service, Payall completed a multi-step customer testing and certification program. The FedNow Service network includes a diverse range of financial institutions and service providers across the U.S.
Gary Palmer, the President and CEO of Payall, remarked, “We’re thrilled to provide U.S. deposit institutions with fast, easy, low-cost and safe access to the FedNow Service.” Gary also added, “We lead with safety first – our digital counterparty risk, real-time transaction monitoring and intervention, specialty compliance, intelligent routing, global payments gateway and other breakthroughs are showcased on the FedNow Service Provider Showcase. Our infrastructure was built using first principles so that correspondent banks and originating institutions can enable cross-border payments that are safe, transparent, fast, low-cost, and inclusive. Our capabilities eliminate the trade-offs between faster and safer payments, whether delivered to bank accounts, mobile money, digital wallets, cards or cash globally; and now we include domestic transactions by utilizing our capabilities for FedNow.”
Financial institutions and service providers will continue to onboard throughout 2025 and beyond, helping the FedNow Service build a strong instant payments infrastructure across the U.S.
About Payall Payment Systems, Inc.
Payall enables banks and other financial institutions, as well as regulated entities, to offer safe, transparent, low-cost, immediate, and inclusive cross-border payments. Payall has pioneered the first-ever multi-currency global single shared platform as a modular infrastructure that solves different problems facing originating institutions, correspondent banks, and new alternatives to correspondent banks, intermediate banks, central banks, regulators, domestic payment networks, and liquidity providers. Inspired by first-principles, Payall’s breakthrough capabilities digitize end-to-end counterparty risk management, multi-jurisdictional compliance, real-time event surveillance and intervention, dynamic transaction decisioning across multiple institutions and countries, as well as a global gateway that intelligently routes payments to last-mile partners, including 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 operates as “bank-in-a-box” for a complete digital presence. With Payall, banks and other financial institutions can offer cross-border product experiences their customers need, but no bank has ever offered.
Payall is backed by Andreessen Horowitz Fund (A16Z), Ventura Capital, Thomson Reuters Ventures, Motivate Ventures, BAT-VC, Presidio Ventures / Sumitomo Corp, PS27 Ventures and other notable family offices and industry icons.
To learn more, visit www.payall.com. Follow Payall on LinkedIn and X.