Why FedNow Will Slow Real-Time Payments
PYMNTS
AUGUST 12, 2019
Direct deposit over the ACH network eliminated that friction and got them earlier access to those funds. Fast-forward four decades, and everyone – FIs, ACH operators, FinTechs – have been working overtime to get payroll off the paper check and to get wages into workers’ bank accounts faster. Much later. Slowing Innovation.
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