this post was submitted on 24 Jul 2023
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Fed’s new instant payment system could be trouble for PayPal, Venmo (arstechnica.com)
submitted 1 year ago by L4s@lemmy.world to c/technology@lemmy.world
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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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[–] AbackDeckWARLORD@sh.itjust.works 5 points 1 year ago

We have something like this in Canada, Interac

Interac is not the same thing at all, the US equivalent is Zelle.

FedNow does instant EFT payments, which is something Canada does not have.