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Faster Payments: Does The Fed Have A Hidden Agenda?

PYMNTS

This new feature, available to PayPal customers in good standing, leverages the company’s partnership with Chase, and Chase’s connection to The Clearing House’s RTP network, to move money instantly into the bank accounts of consumers and SMBs. And finally, that the banks and the card networks are the big losers.

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The Big Tech Canary In The Faster Payments Coal Mine

PYMNTS

The letter highlighted that access to the payments systems today is only possible through incumbent intermediaries – the banks and the card networks – which have not kept pace with the needs of consumers and businesses. It flew in on Dec. 14, the Friday before the week before Christmas, so you might not have noticed.