> n the U.S., I expect bank transfers will struggle to see general adoption as a payment method, even after the release of FedNow, but who knows what will be bu

> n the U.S., I expect bank transfers will struggle to see general adoption as a payment method, even after the release of FedNow, but who knows what will be built on top of them. Cards are very popular and entrenched, and the economic model allows them to outcompete free on price alone. New payment methods will need to find something very interesting to offer to capture the user’s interest, and some participant in the transaction to pay for it; Buy Now Pay Later had the interesting insight that some businesses would happily underwrite their customers’ use of credit if someone else took the payment risk. Perhaps we’ll see similar experiments in applications using bank transfers as the underlying payment rail but with more complicated economics split creatively between the parties. Well, yeah, the other thing is, what interest do I have in letting the merchant get my funds directly without a middleman who promises to step in in the case of fraud? I am quite happy to continue paying with credit.