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.

  • Angius@lemmy.worldEnglish
    6·
    11 months ago

    Same in Poland. That, and Blik system which let’s you send money to a phone number (if it’s also registered with Blik) and it’s actually instant. Not “next transfer window” like Elixir transfers, instant.

    And yes, completely free.

    • yeather@lemmy.caEnglish
      5·
      11 months ago

      The US has this, it’s called Zelle, every bank seems to have it, and it’s instantaneous. For some reason it’s just not popular, probably because Paypal and others are already entrenched.