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The maintenance costs are probably closer to zero than to the current profit margins of the credit card companies. FedNow transfers are almost free after all. $
by cubefox 2y ago
The maintenance costs are probably closer to zero than to the current profit margins of the credit card companies. FedNow transfers are almost free after all. $0.043 per transaction according to Wikipedia.
- carlosjobim 2y agoVisa's operating costs in 2023 were $10-$11 billion, compared to their profit of $17-$18 billion. This is on a revenue of $32 billion.
- cubefox 2y agoFedNow's operating cost must be multiple orders of magnitude lower.
- carlosjobim 2y agoWould they be if FedNow had a planetary instant payment system with the same amount and value of transactions as Visa, including fraud protection?