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submitted 1 year ago by L4s@lemmy.world to c/technology@lemmy.world

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

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[-] Whirlybird@aussie.zone 10 points 1 year ago* (last edited 1 year ago)

Thank you for this, because as an Australian I was quite confused. We have had "instant" payment systems for as long as I can remember between banks. The US banking and payment system seems stuck in the dark ages.

This didn't kill things like PayPal though, they're completely different services.

this post was submitted on 24 Jul 2023
301 points (98.7% liked)

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