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Paypal has nothing to do with ACH or cash settlement. Totally different.
by pbrb 9y ago
Paypal has nothing to do with ACH or cash settlement. Totally different.
- brucephillips 9y agoNeither does Ripple, which is the technology in question in this subthread.
- pbrb 9y agoRipple is a member of NACHA: https://ripple.com/insights/ripple-labs-joins-mainstream-nacha-financial-industry-alliance/ https://ripple.com/insights/ripple-labs-joins-mainstream-nac... There is huge potential with what Ripple is doing, and their technology very much has a lot to do with ACH and cash settlement. Apologies if I was being an ass. I'm just really excited about Ripple and how I think their technology can transform the entire electronic movement of money. No more waiting days for cash to settle... it literally takes seconds. It's pretty amazing to see it in action.
- simeongbolo 9y agoYou are so right, Ripple is one of the only companies trying to revolutionize how payments work by creating interoperability between different payment networks and working with banks. What they are trying to do is extremely ambitious... if they can pull it off then oh man, not sure what to say. It's like trying to predict Facebook pre internet.....
- QML 9y agoWhen you withdrawal from PayPal (or at least Venmo), doesn't it go through an ACH?
- wmf 9y agoWhich is why PayPal can't be faster than ACH.
- jrochkind1 9y agoI do wonder how long until some regulators decide Paypal is a bank.
- kuschku 9y agoAbout 10 years ago. That’s why PayPal Europe S.a.r.l. et Cie s.c.a. is a registered bank.