this post was submitted on 23 Jul 2023
85 points (89.7% liked)

Technology

58303 readers
36 users here now

This is a most excellent place for technology news and articles.

Our Rules

  1. Follow the lemmy.world rules.
  2. Only tech related content.
  3. Be excellent to each another!
  4. Mod approved content bots can post up to 10 articles per day.
  5. Threads asking for personal tech support may be deleted.
  6. Politics threads may be removed.
  7. No memes allowed as posts, OK to post as comments.
  8. Only approved bots from the list below, to ask if your bot can be added please contact us.
  9. Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 1 year ago
MODERATORS
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
85
Does Elon Musk (or CEO Linda) know about FedNow? (www.cnbc.com)
submitted 1 year ago* (last edited 1 year ago) by [email protected] to c/[email protected]
23 comments fedilink hide all child comments
 

The Federal Reserve has already launched a small test of near-instantaneous financial transactions. Every time they talk about payments as a future feature of X/Twitter, I wonder if they know that’s getting Sherlocked.

you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 9 points 1 year ago

Depends on how you look at it. According to the article, FedNow is more expensive than automatic clearing house. 4 cents vs half a cent. But if FedNow is competing with Venmo and Paypal, they charge a lot more than the Fed's $0.04. That's also cheaper than what the credit card companies charge businesses.