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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[–] darkfyre@lemmy.world 1 points 1 year ago

Ok, but if this new payment model takes over and there are no fees to merchants, I'm very skeptical those savings will be passed on to buyers. I think at this point credit card processing is pretty well priced in.