Payments Infrastructure: Instant Payments (Fed Now and RTP), Fedwire ISO20022, ACH, and Credit Unions

Iyer, Jayaram Gurumurthy (2025) Payments Infrastructure: Instant Payments (Fed Now and RTP), Fedwire ISO20022, ACH, and Credit Unions. World Journal of Advanced Engineering Technology and Sciences, 16 (2). pp. 353-363. ISSN 2582-8266

The article examines the evolving U.S. payment systems market, focusing on rapid payment technologies such as FedNow, Real-Time Payments (RTP), Automated Clearing House (ACH), and the adoption of fedwire iso20022 standards. The paper shall expound on the challenges and the opportunities that the innovations bring, particularly for small financial bodies like the Credit Unions. We examine with the help of complex studies how such bank structures as Bank of America and Coastal Credit Union have effectively implemented FedNow and RTP to achieve faster, safer, and more satisfactory payments. The article also goes into the importance of fedwire iso20022 in enhancing interoperability and data management between systems. The discussion of the paper assesses the significance of current payment structures through their significance in the financial commercial activity, especially regarding their potential to sustain continuity and conform to consumer demands for convenient, quick, and secure payments in business and financing operations. Lastly, the paper provides a hint of the direction that payment systems are moving and the effects that they can have as far as the economy is concerned.