Juniper Payments Supports New FedNow® Service, Advancing U.S. Payment System
Wichita, Kan. — (July 20, 2023) — Juniper Payments, a PSCU company and the largest cloud-based non-bank third-party provider of inter-bank transaction and reporting systems in the U.S., announced today it is now supporting live transactions on the Federal Reserve’s new instant payment rail, the FedNow Service. Juniper Payments is among the first service providers supporting transaction activity for financial institutions on the service.
Through the FedNow Service, Juniper Payments is positioned to offer financial institutions access to instant payments, helping them remain competitive and offer best-in-class service for consumers.
“As a service provider of the FedNow Service, Juniper Payments demonstrates dedication to innovation,” said Ken Montgomery, Federal Reserve Bank of Boston first vice president and FedNow Service program executive. “Financial institutions benefit from the ability to offer instant payments through the seamless experience offered by service providers; these critical organizations expand the reach of instant payments and pave the way for industrywide progress.”