FedNow is the Federal Reserve's new proposed system to handle bank-to-bank transfers faster and more efficiently than ACH, detailed here: https://www.frbservices.org/financial-service…

The service is slated to launch sometime in 2023. However, it is an open question both whether that deadline will be met, and whether once the service is released it is useful enough that banks start moving transactions into it away from ACH.

Question will resolve YES when the total cash volume of payments processed by ACH, as reported by Nacha, is less than the total cash volume of payments processed by FedNow, as reported by the Federal Reserve.