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I have wondered if FedNow is going to hurt the credit card industry. At least I hope it brings some competition.
by hnburnsy 3y ago
I have wondered if FedNow is going to hurt the credit card industry. At least I hope it brings some competition.
- cagey 3y agoUnlikely IMO. According to my limited research, FedNow competes with ACH and other direct payment systems (e.g. Zelle), while credit cards are loan-based.
- jgalt212 3y ago> credit cards are loan-based. should be credit cards are points-based. Many / most credit holders don't care about revolving credit, but they do care about rewards points. This may be US-only.