Financial technology platform Adyen has completed testing and certification for the FedNow Service, the Federal Reserve’s instant payment infrastructure launching in July 2023. Following this announcement, Adyen is set to be enabled to provide real-time payment and payout services in the US.

Adyen and what the FedNow Service certification entails Based on the information provided in the press release, in 2021, Adyen obtained a US banking branch licence, showcasing its long-standing commitment to commercially investing in the North American region. By being among the first industry players certified to access the FedNow Service, Adyen looks to address US-based merchant needs through expanded-real time payments and by leveraging the financial technology platform’s payout capabilities. For the FedNow Service certification to be achieved, Adyen completed a comprehensive testing curriculum and demonstrated to the Federal Reserve that its payment services fulfilled a requirements checklist to confirm the ability to operate in a 24x7x365 environment.

Moving forward, Adyen is to simplify cash flow for its customers, improve corporate treasury management, and enable instant funds movement between financial institutions. Per the announcement, the innovation sits at the forefront of payments and payout services by operating 365 days a year, 24 hours a day, in a secure and reliable manner. Davi Strazza, President of Adyen North America stated that as businesses are on the constant lookout for increasingly fast and efficient ways to move money, the FedNow Service helps solve that problem, and the company is looking forward to being an early adopter of the service.

Per their statement, Adyen’s historical investments into North America have positioned it as one of the only fintech companies with a local branch licence qualified to join the Federal Reserve’s new instant payment infrastructure. Combined with its suite of payment and embedded finance products, the company is enabled to provide businesses with an extensive variety of powerful tools to succeed in the current competitive market. Ken Montgomery, Federal Reserve Bank of Boston’s first vice president and FedNow Service programme executive added that early adopters of all sizes throughout the country are advancing in their operational readiness for live transactions through the system.

Per the spokesperson’s statement, completing the certification marks a key milestone for participating organisations to validate their ability for instant payment services delivery. Additional information on Adyen’s real-time payments and payout services can be found on their website. Adyen’s strategy and offering A financial technology platform, Adyen aims to help businesses achieve their ambitions faster by providing end-to-end payment capabilities, data-driven insights, and financial products in a single global solution.

For more information about Adyen, please check out their detailed profile in our dedicated, industry-specific Company Database. .