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The EU's SEPA Instant Credit transfer is another example as is the UK Faster Payments network. On the flip side if you need an example of stifiled innovation w
by digianarchist 5y ago
The EU's SEPA Instant Credit transfer is another example as is the UK Faster Payments network.
On the flip side if you need an example of stifiled innovation with no near future improvements on the horizon, just look at Canada's pathetic excuse of a banking system.
- p_l 5y agoFrom my POV, the issue in USA is that there's no incentive[1] for ACH to be made better once banks could go nationwide and compete for clients that way. Making ACH better made sense when banks were more fragmented and couldn't just lock customers in. [1] ACH is private institution started as better clearing house between banks, unlike systems like Poland's ELIXIR which is under aegis of polish equivalent of Fed