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This sounds like a problem with immediate impact which will eventually (1-2 years?) go away. Creating a new payment system, deploying it widely, getting people
by 8organicbits 6y ago
This sounds like a problem with immediate impact which will eventually (1-2 years?) go away. Creating a new payment system, deploying it widely, getting people to use it, all takes way longer than that time period.
- toast0 6y agoThey could build on the Direct Express debit Mastercard system that already exists to give social security (and other federal payers) a place to direct deposit funds for people who don't have a bank account. You'd need a way to get money on the card, but that could be ATM deposits, presumably.
- ridaj 6y agoSure. I'm not saying they should not solve the short term problem. Just that there's a bigger opportunity.