|
|
|
|
|
|
by supertrope
3000 days ago
|
|
|
The payments clearinghouse in USA is in need of an upgrade but no one wants to pay for it or suffer any downtime or errors. Waiting up to three days is the reason why Paypal/Venmo, credit cards, cash and wire transfers are still so popular but these fast options can carry hefty fees. e.g. Credit cards skim 2% of businesses' revenue, ATMs can charge $3, and wire transfers are 25USD. Banks also benefit from the liquidity problems that can result - it's another reason to apply for credit or leave a larger cash reserve on deposit. |
|
|