Plaid is planning to add support for the FedNow Service, a native bank payment service in the US, to its Transfer platform, enabling faster and more secure money movement. The move aims to unlock financial freedom for everyone by providing instant, real-time access to funds. With this addition, Plaid will provide a single API for companies to securely authorize payments, analyze risk, and facilitate money movement, expanding coverage for payouts and improving the overall payment experience. The FedNow Service is expected to accelerate the transition to real-time payment rails in the US, benefiting consumers and businesses with better liquidity, faster access to funds, and improved transparency into current cash flow. Plaid's solution will also help mitigate risk and prevent identity theft and fraud by providing advanced security features such as Plaid IDV and Beacon.