Money20/20 USA: Volt CEO Tom Greenwood on Real-time Payments

Money20/20 USA 2023 saw the leading lights of financial services come together in Las Vegas to connect and create the future of money.

FinTech Magazine caught up with Tom Greenwood, CEO at Volt, to discuss the evolution of real-time payments and his company's goals for 2024. 

Praise for FedNow

Greenwood spoke in glowing terms about the Federal Reserve's newly-launched FedNow Service, which is enabling financial institutions to deliver end-to-end faster payment services to their customers.

"There's already 140 financial institutions connected which, given they've only launched for a couple of months, is remarkable progress," he said.

"It's the new real-time payment rail for the US – it's hugely exciting. It's high innovation, though, so it's going to be a lineal and progressive journey. It's going to take some time to really find the use cases and the traction but, in terms of the first release, I don't think the Fed could have hoped for anything better.

"It represents a game-changing initiative for payments in the US, so we're really excited to be a part of it."

What's next for Volt? 

Volt recently closed a US$60 million Series B funding round and, with a team of more than 220 people, is intent on continuing to grow. 

"Expansion in the US is really on our agenda over the next few months," Greenwood added. "We're deep in conversations with respective partners about our launch products in the US.

"We're looking to orchestrate our FedNow with The Clearing House RTP, with ACH, to deliver real-time payments for this market."

To hear more from Tom Greenwood, simply follow the video link at the top of this story. 

Want to see more from Money20/20 USA 2023? Stay tuned to our website for more content, which will be rolled out in the coming days. 

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