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How banks and businesses can prep for the FedNow instant-payment system (www.computerworld.com)

submitted 1 year ago by [email protected] to c/[email protected]

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FedNow will be the first of its kind central bank instant payment system in the US and could revolutionize how businesses and consumers pay and receive money. But not everyone is prepared for it.

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[–] [email protected] 1 points 1 year ago (1 children)

I doubt it. Cash will still be used.

[–] [email protected] 3 points 1 year ago

I met a 25 year old a few months back who used cash. They didn't trust banks and was mad their mom was forced to open a bank account to get paid at work. They were also stuck in an abusive household.

Apparently that's one subset of people who use cash.

And to clarify they had no clue how banks worked at all.