A lot of ink has been spilled speculating about FedNow, the US government’s forthcoming real-time payments infrastructure — especially how and why it differs from The Clearing House’s RTP product, same-day ACH and Visa Direct, etc.
However, few have considered the key factor governing its ultimate success: will consumers, businesses, and institutions actually adopt FedNow? Fortunately, we have a lot to learn from the rest of the world, where real-time payment systems have proliferated in recent years, and can use their example to identify gaps in the US system.
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