Real-Time Settlement Coming to US Cards?

US Payment Infrastructure is in the midst of completing a major renovation. 

  • The Clearing House (TCH) Real-Time Payment (RTP)
  • FedNow
  • JPM’s ONYX (now renamed Kinexsys)

Let me preempt the #1 question most of you are about to ask “are card volumes at risk”? Nope, why on earth would banks want to walk away from the most profitable retail banking product in the history of man (see Future of Retail Banking)!?

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Update – Views on CBDCs – Free Content

I thought I’d put together my latest thoughts on Central Bank Digital Currency (CBDC). This blog is an update to my June 2022 Post – CBDCs: Growth Opportunity for US Banks. 

Challenge – Explain a CBDC to a 10 yr old and describe why it is “better” than using cash or a card. While you can never lose your money. The government has the ability to know the source and destination of every transaction.

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