11–20 of 185 posts
In case you missed the other articles and discussions from this site, they are numerous and occasionally highly informative: https://hn.algolia.com/?dateRange=all&page=0&prefix=true&que...
The article is probably right about FedNow likely not drastically improving things immediately, but maybe people will build good products on top of it over the coming years. The launch is for late July https://www.frbservices.org/news/press-releases/062923-organ...
Why can't it be setup in a way where people don't have to build good products on top of it? Why leave room for rent seeking?
And reading this, seems like it really ain't. Interesting that crypto hasn't made inroads here. I mostly get why, incumbents don't like change, but still.
Earlier quoted context omitted.
“Aliases” is the term of art when determining if an instant payment systems supports using a phone number, emails, etc for mapping to an underlying account.
ok
(Work at a FinTech integrating with FedNow, exciting stuff imho)
In case you missed the other articles and discussions from this site, they are numerous and occasionally highly informative: https://hn.algolia.com/?dateRange=all&page=0&prefix=true&que...
Am I the online one who finds them a bit verbose and meandering?
The Branch Banking Model
https://bam.kalzumeus.com/archive/branch-banking/
https://news.ycombinator.com/item?id=32679233
^ I no longer despise local bank branches, it's a tough business.
Money Laundering and AML Compliance"
https://www.bitsaboutmoney.com/archive/money-laundering-and-...
With credit cards, I still have the money in my possession, the dispute process is about the credit card company trying to get paid. With a bank transfer, the money is gone from me, and the dispute process is about me trying to get my money back.
Even with the same policies on paper, this one fact makes me prefer to pay with credit cards wherever possible.
As someone who's not entirely opposed to crypto, this was an interesting read. Mostly in terms of the following: I sort of assumed that one of the factors (among many, for sure) limiting widespread adoption of crypto was that the thing we (in the US) already have was probably pretty smooth? And reading this, seems like it really ain't. Interesting that crypto hasn't made inroads here. I mostly get why, incumbents don…
A funny thing happened, 10 years ago crypto transfers were free, and bank transfers cost $15 or more.
Today the opposite is true, many bank transfers are free, but sending crypto costs about $10.