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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[–] Bo7a@lemmy.ca 6 points 1 year ago

We had bank to bank and bank to merchant over the internet in 1996. And by 2003 the interac e-transfer for customer to customer had rolled out countrywide.

The history is actually pretty impressive.