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FedNow became a thing just two years ago. With transaction fees of just $0.043/transaction, it’s cheaper than every other payment processor out there. Hopefully it can gain adoption and push out Visa/Mastercard.

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PolarKraken@lemmy.dbzer0.com ⁨1⁩ ⁨day⁩ ago
Interesting. Good to have a less rent-seeking option, not sure I love the idea of the Fed just (assumedly) having access to all my transactions, though.

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b3an@lemmy.world ⁨11⁩ ⁨hours⁩ ago
What prevents them from getting bigger and doing the same thing. This cycle of sadomasochism needs to stop at the root cause.

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- Landless2029@lemmy.world ⁨3⁩ ⁨hours⁩ ago
  Enshitification is common. Corps care a ton about social pressures and norms. They get swayed easily by public opinions.
  
  This one is US Gov based so we’ll see how it plays out. They tend to be slower to move… Until someone starts slinging executive orders around to rip things out and tear them down.
  
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- BombOmOm@lemmy.world ⁨5⁩ ⁨hours⁩ ago
  FedNow is owned by the Federal Reserve. They are almost certainly going to retain stricter regulation than independently operated payment processors.
  
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  - b3an@lemmy.world ⁨3⁩ ⁨hours⁩ ago
    I’m. So. Reassured.
    
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