Banks serving as guinea pigs for Federal Reserve’s instant payments system
arstechnica.com
The Fed's goal is to connect 9,000 financial institutions nationwide.

Fed’s new instant payment system could be trouble for PayPal, Venmo::The Fed’s goal is to connect 9,000 financial institutions nationwide.

  • darkfyre@lemmy.worldEnglish
    1·
    1 year ago

    Ok, but if this new payment model takes over and there are no fees to merchants, I’m very skeptical those savings will be passed on to buyers. I think at this point credit card processing is pretty well priced in.