[sidewndr46]

Nothing about "FedNow" is targeted at individuals. It's for financial institutions.

[toomuchtodo]

It is infrastructure for banks to provide instant payments to banking customers if you want to be pedantic.

https://www.frbservices.org/binaries/content/assets/crsocms/...

> The FedNow Service will facilitate end-to-end instant payment services for consumers and businesses, increase competition, and ensure equitable access to banks of all sizes nationwide.

https://corpgov.law.harvard.edu/2020/08/31/fednow-the-federa...

[sidewndr46]

Right, banks are financial institutions. You and I are not.

[doubleg72]

No, but you're probably a customer. Not sure why you just cherry picked that, but it most certainly will benefit individuals.

[sidewndr46]

FedNow is just banks offloading their costs onto the public sector.

[tadfisher]

The private sector has had ample time and ability to implement a ubiquitous real-time settlement system, and it has not. I'd consider this money well spent.

[sidewndr46]

as long as you're spending others money, of course it seems well spent