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FedNow: https://www.federalreserve.gov/newsevents/pressreleases/other20230720a.htm https://www.federalreserve.gov/newsevents/pressreleases/othe... Unfortunate

• Brystephor 3y ago
  I think "secure" is the key part that's missing here. There's no incentive for a consumer to use a payment method such as this when paying with a bank. The reason is that credit cards come with consumer protection that this just doesn't offer.
  • cubefox 3y ago
    I don't think customer protection is necessary unless you are dealing with unusually small or shady companies. I live in Germany and do not own a credit card, they are uncommon here. Mostly we pay per bank transfer or debit card. Even with the possibility of fraud, this is probably significantly cheaper in expectation than paying a 2% credit card fee each time just to have the possibility of chargeback.
    • lxgr 3y ago
      Have you ever considered that what’s keeping most companies proactively honest and consumer-friendly are consumer protection laws and regulations?
      • cubefox 3y ago
        Have you ever considered that those don't require credit card chargebacks?
        • lxgr 3y ago
          Of course not, but you made a different point in the comment I was replying to: > I don't think customer protection is necessary [...] Chargebacks are only one possible consumer recourse mechanism specific to payment cards. There's other means to keep merchants honest.