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Nothing about "FedNow" is targeted at individuals. It's for financial institutions.

• toomuchtodo 4y ago
  It is infrastructure for banks to provide instant payments to banking customers if you want to be pedantic. https://www.frbservices.org/binaries/content/assets/crsocms/financial-services/fednow/general-use-case.pdf https://www.frbservices.org/binaries/content/assets/crsocms/... > The FedNow Service will facilitate end-to-end instant payment services for consumers and businesses, increase competition, and ensure equitable access to banks of all sizes nationwide. https://corpgov.law.harvard.edu/2020/08/31/fednow-the-federal-reserves-planned-instant-payments-service/ https://corpgov.law.harvard.edu/2020/08/31/fednow-the-federa...
  • sidewndr46 4y ago
    Right, banks are financial institutions. You and I are not.
    • doubleg72 4y ago
      No, but you're probably a customer. Not sure why you just cherry picked that, but it most certainly will benefit individuals.
      • sidewndr46 4y ago
        FedNow is just banks offloading their costs onto the public sector.
        • tadfisher 4y ago
          The private sector has had ample time and ability to implement a ubiquitous real-time settlement system, and it has not. I'd consider this money well spent.
          • sidewndr46 4y ago
            as long as you're spending others money, of course it seems well spent