3 ms·

No one cars about the speed in most payments. FedNow is as complicated as ACH and has even fewer protections.

• DesiLurker 2y ago
  speak for yourself, travel outside of US to see how well its implemented by even 3rd world countries like India. payment in seconds basically means you can use it (or a derivative) at PoS. that basically mean for vast majority of people who pay of their balances monthly, no income from visa transaction fees which can be 3%+ for small/mid retailers.
  • pbreit 2y ago
    I'm speaking from 25 years of first-hand experience. The money doesn't need to move instantly at 99% of POS scenarios, just the understanding that the money will eventually move.
    • pbreit 2y ago
      The parties who need fast money movement the most are criminals.