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where almost everyone is now banked) and made the case for why the Fed was positioned as the best player to operate a ubiquitous, interoperable real-time payments network – even though the Fed doesn’t have a great track record at payments innovation ( #killthecheck ). Here’s where the canary flew in. it has been since the fall of 2017.
In just a matter of days, the payments industry will see a significant — and ubiquitous — change in the way payments are sent and received. Take merchant acquirers who wish to expedite the posting of funds on the same day to a merchant’s bank account.
In its latest white paper, INTERAC outlines the principles as follows: Principle #1: Goodfunds is the better model. While these may not necessarily be the greatest vehicles to exchange value, they are ubiquitous in many payment markets, which makes moving consumers and businesses away a major challenge. million per day sent.
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