The Fed Releases Some FedNow Fees and other Digital Transactions News briefs from 1/28/22

The Federal Reserve’s FedNow real-time payments platform will charge a monthly $25 participation fee for each receiving routing transit number, 4.5 cents per credit transfer to be paid by sender, and a penny for a request for payment message, paid by requestor. The Fed expects to release a full fee schedule later this year in advance of an expected 2023 launch.
Sound Payments said its Sound Easy Pump EMV-compliant payment service for fuel pumps received approval from Sinclair Oil and is already in use at 14 Sinclair stations. There are more than 1,1500 Sinclair stations in 29 states.
Western Alliance Bank said it has acquired Digital Settlement Technologies, which does business as Digital Disbursements, a payments platform for class-action settlements. Terms were not announced.
Segmint, an analytics service focused on payments data, announced it will work with data-cloud provider Snowflake to analyze payments without the need to move data from the client institution and back again.
Trust Payments appointed payments veteran O.B. Rawls IV to its advisory board.

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