Why will government ownership of a national real-time payment rail make a difference?
“It will incentivize third-party infrastructure built on top of payment rails, as has been the case across the world.
Skeptics of the highly anticipated launch of the Federal Reserve’s real-time payment network, FedNow, point to the limited use of the existing networks in the U.S. The one key difference, however, is ownership: RTP and Zelle are owned by consortiums of the largest commercial banks in the U.S.”
