Probably right for most big box stores or multibillion dollar businesses. But you would be surprised how thin the margins are for local grocery stores. That 3-5% in processing could be used to compete or undercut big box competitors that price in the credit/debit card fee.

I think with the right approach (small businesses first) it could see high adoption. Plus it would make it slightly more attractive in setting up shop in places that wouldn’t otherwise get any attention (ie, food deserts)

It’s all in prep for the pump and dump when it IPOs.

So 2013-2014? Lol

Intel had something like this as well (side channel attack?). I remember it because Linus Torvalds (creator of Linux kernel) ripped Intel a new one.

Credit card rewards are really not worth it. These programs are largely funded by the fees that are charged to merchants which are ultimately passed on to you at time of purchase.

I would much rather have reduced costs of goods rather than have paltry credit card reward programs.

Processing transactions with credit cards incurs fees from middlemen and unnecessarily complicates the merchant-buyer relationship. The merchant ends up paying these fees and ultimately passes this cost to the consumer in the form of a 3-5% or more markup of goods. In some cases, even cash customers are paying the hidden markup as well.

With FedNow, this has the potential to bypass all of this messiness and severely undercut debit and credit card processing networks. Thus slowly bleeding them out of market share.

I can definitely see a new market segment of payment processing which disrupts the existing status quo. Could very easily cover expenses of running the operation on a shoe string budget, charge 1-2 cents per transaction, and become profitable in just under a year (assuming high adoption).

In the end, smaller merchants are able to compete or in some cases undercut bigger stores since they are saving money on CC fees. Consumer has the benefit of more competition in the market and getting that better price. Overall decreased cost of living.

My work place is doing something similar. RTO (return to office) by some date near the end of the year. Failure to comply will result in some penalty or termination.

I don’t understand it. WFH has proved to be the same if not more productive than working in some stupid office. Company revenues and profits at highest point ever.

What’s even more fucking stupid is that the company is retiring some of their real estate in an attempt to save on costs yet they push this forced RTO.

The email they sent out was also a fucking joke — citing “tO pReSeRvE oUr UnIqUe CuLtUrE” bullshit that I have seen at other companies. It’s like they all hire the same PR firm to do their copywriting.

Makes you wonder if these executives are also well invested in corporate real estate. Thus the push towards RTO across the board.

This is what banking looks like if you are poor, unfortunately.

Those cash checking places are fucking evil. Then the payday loan companies with usury…

Honestly, once it reaches critical mass. It will mean the end of PayPal, Venmo et al AND the credit card industry as a whole.

Been using the Apple Watch for the past 3 years (currently on the Ultra) and have been loving it. I’m not a serious athlete but use it to track my daily walks/runs. It keeps me honest and active.

Plus I have a data line for my watch so I can ditch my phone and still talk, text, and check emails as needed. I hate to admit it but I have completed many meetings with just my Apple Watch + AirPods while on a run/walk.

Also, it acts as a wallet replacement for the most part. ~8 out of 10 times I can tap and pay with my watch. I only keep 1 physical card and my state ID on me.

There’s something weird about “protesting” a site by continuing to use their site. Hopefully it’s just bot traffic flooding /r/place rather than real people coordinating in real time.

You might have something here. Development would be easy but maintenance and moderation is another beast.

Is the service you are using allow you to download the music DRM free, or is it only streamable?

If it’s the latter, might want to reconsider. Just like movies purchased on these platforms (Apple, Amazon, Microsoft, …), the license holder of the intellectual property (IP), usually the record/music company, can pull their content from these platforms at any time and you will not be reimbursed.

True story. Next car I own will be a manual. Won’t even bother setting up the electronic junk if it comes with it.