Fed launches long-awaited instant payments service, modernizing system - eviltoast
The U.S. Federal Reserve has launched a long-awaited service which will aim to modernize the country's payment system by eventually allowing everyday Americans to send and receive funds in seconds, 24 hours a day, seven days a week, the central bank announced on Thursday.

Looks like the US is finally catching up to the rest of the world for transferring money

    • yenahmik@beehaw.orgOP
      6·
      1 year ago

      It sounds like a platform private companies can use to develop instantaneous peer-to-peer money transfer, as opposed to a true service run by the feds. Either way, the fact that it would allow someone to make a direct payment to another person’s bank account anywhere would be a huge upgrade.

  • can@beehaw.org
    5·
    1 year ago

    As a Canadian I’m surprised to hear it took this long. Is that why everyone uses venmo?