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> To my knowledge, the US doesn't yet have a central widespread instant-payment infrastructure I don't know how it compares to Faster Payments, but Visa has Vi
by quesera 6y ago
> To my knowledge, the US doesn't yet have a central widespread instant-payment infrastructure
I don't know how it compares to Faster Payments, but Visa has Visa Direct[0], and Mastercard has Mastercard Send[1]. Collectively "OCT", Original Credit Transaction, a/k/a Push-to-Debit.
[0] https://developer.visa.com/capabilities/visa_direct https://developer.visa.com/capabilities/visa_direct
[1] https://www.mastercard.us/content/mccom-admin/faq-category-admin/mastercardsend.html https://www.mastercard.us/content/mccom-admin/faq-category-a...
- Symbiote 6y agoFaster Payments integrates directly with banks, rather than card processors. It replaces (for transfers under £250k) the older electronic transfer system, BACS. Otherwise, it looks similar, although Visa/MC is an additional middleman compared to Faster Payments, which is just between the banks.