Judging by the article, it sounds like they are reaching for technological parity with other governments around the world: >In fact, among the many countries t

Judging by the article, it sounds like they are reaching for technological parity with other governments around the world: >In fact, among the many countries that have either developed or are in the process of developing instant payment capabilities, the vast majority have done so with the direct operational involvement of their central banks. This progress means that the U.S. retail payment system lags behind systems in other countries. Furthermore, they don't have confidence in the private sector to achieve this sort of thing: >Based on its assessment, the Board concluded that private-sector real-time gross settlement services for instant payments alone were unlikely to provide an infrastructure for instant payments with reasonable effectiveness, scope, and equity. In particular, private-sector services are likely to face significant challenges in extending equitable access to the more than 10,000 diverse depository institutions across the country.