The company’s clients can now fully utilise the service, which supports the entire payments lifecycle, allowing for real-time credit transfers and alerts. Credit: T. Schneider/ Shutterstock.

US fintech company FIS has been certified to enable send capabilities for the Federal Reserve’s FedNow instant payment service. 

The FedNow Service is an instant payment infrastructure that enables eligible depository institutions of various sizes across the US to offer instant payment services. 

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This certification enables FIS to provide its financial institution clients with the capabilities to offer a “modernised” digital payment experience to consumers and commercial borrowers. 

It follows the launch of FedNow in July 2023, FIS achieved certification after testing curriculum.  

The company’s clients can now fully utilise the service, which supports the entire payments lifecycle, allowing for real-time credit transfers and alerts. 

FIS is one of the first technology providers certified to support credit transfer capabilities within the FedNow instant payment service, the company stated.  

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FIS cards and money movement head Chris Como said: “As money moves between banks, consumers, businesses and beyond in a complex cycle, credit and debit cards continue to play a leading role in the payment experience.  

“However, slow or delayed transfers can harm customer loyalty when they need to pay loans, rent, or time-sensitive bills on any given day. Giving the end user direct access to send payments instantly using FedNow marks a huge milestone in our efforts to enable a harmonious payments experience for our clients and the customers they serve.” 

The company’s fintech solutions are designed to enhance payment, banking, and investment systems for institutions, businesses, and developers alike.