[nicholasjarnold]

Yep, FedNow is a good step in the right direction, but the list of banks that participate needs to grow substantially. Many small and mid-sized banks/FIs aren't having a great 2023/2024, so I wouldn't expect to hear much about them integrating with new payment rails until their fundamental economics improve a bit allowing the decision makers to loosen up the purse strings again.

source: have worked in the industry consulting and doing technical design and implementation

[hakfoo]

I've been amazed at the silence about it.

I work in a firm very closely associated with CC and ACH processors, and I feel like the only time FedNow ever came up was when I mentioned it.

The low cost of acceptance and fast response times would seem to appeal to any merchant who's already begrudgingly accepting ACH, even if it's not a direct replacement for card payments.