[Dirlewanger]

It's weird though, because something like ACH desperately needs to be replaced. It's slow, and compared to whatever they have in the EU, it's slow and embarrassing. Not saying it needs to be blockchain (I'd prefer it isn't), but taking lessons from it would be beneficial. In the past ~30 years, the American business ecosystem cares less and less about standards and more about pushing their own standards/formats and not giving a fuck about interoperability.

[wil421]

Same day ACH is available if you have a bank that supports it. My small credit union has same day (and free) ACH if I get it in by noon.

[kalleboo]

The new EU SEPA system launched in 2017 has 10-second settlement and it's available 24/7.

You're not going to compete with Venmo, PayPal and Libra with "same day if I get it in by noon"

[wil421]

Zelle has instant settlement for banks that use it, including two of the three banks I use.

ACH goes through the FED before it is processed by the receiving bank. Is SEPA sent to the ECB before clearing?

I’ve worked in Fintech for 6+ years. Banks are dinosaurs and the US banks are terrible at adopting new processes/tech.

In the US we are in a standard war with ACH, Zelle, and other payment schemes fighting for market share.