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The Big Tech Canary In The Faster Payments Coal Mine

PYMNTS

The letter highlighted the role of faster payments as a panacea to financial inclusion problems in the U.S. 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.

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Happy First Birthday FedNow: But is This a Cause For Celebration?

The Fintech Times

In fact, in 2023 , real-time payments only made up one per cent of all payments in the country. Up to this point, US financial institutions have relied on The Clearing House ‘s (TCH) Real-Time Payments Network (RTP), run by big banks. What is actually popular?

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