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Even government services have been tapping banking APIs to more easily receive digital payments. Government entities are usually one of the largest users of cash and checks,” Latiff said. Government entities are usually one of the largest users of cash and checks,” Latiff said. Making Money Move.
government to share his ideas. This innovator secretly hoped the government would be so enamored with his innovation and its potential to transform commerce (and any number of other uses cases) that they’d want to own and operate it. government took a pass. system of faster payments be market-driven and governed by the industry.
But, don’t look for the recommendation to kill checks to emerge from the report that the 500+ person Fed Task Force that’s examining the path forward for the U.S. Even in countries like Brazil, where checks are used to make expensive purchases like appliances or cars, their use is discouraged by both retailers and the government.
While the Act itself covers a broad spectrum of corporate governance, it’s Section 404 that zooms in tight on the financial integrity of publicly traded companies. There’s no room for “close enough”; it’s about rigorous internal checks, clear documentation, and full disclosure.
In fact, it’s not surprising at all that Revolution Money pretty much fizzled not long after the checkcleared to the PR firm that wrote that September 2007 press release. As this dream of “transformation” went, so does pretty much every other platform play in payments. And in most other industries. It’s normal.
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