this post was submitted on 24 Jul 2023

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Fed’s new instant payment system could be trouble for PayPal, Venmo (arstechnica.com)

submitted 3 years ago by L4s@lemmy.world [M, B] to c/technology@lemmy.world

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Fed’s new instant payment system could be trouble for PayPal, Venmo::The Fed's goal is to connect 9,000 financial institutions nationwide.

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[–] jeffw@lemmy.world 1 point 3 years ago (2 children)

We’re talking about wire transfers, not closing on a mortgage. They take 3-5 days. I pay my loan to Rocket every month

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[+] abort_christian_babies@lemmy.world -1 points 3 years ago* (last edited 2 years ago) (1 child)

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[–] jeffw@lemmy.world 1 point 3 years ago

No, the entire thread is about wire transfers lol. There’s nowhere on Earth where you can close on your mortgage instantly

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