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0 pointsScoundreller3y ago0 comments

System-wide Innovation is a lot easier when one’s country has a handful of banks. USA has ~4500 banks, 12x the #2 country, Russia.

https://www.helgilibrary.com/charts/what-country-has-the-mos...

0 comments

gdy3y ago

In Russia money transfers are mostly instant. What stops american banks from using new software and new payment protocols?

astrange3y ago

There are instant transfers (Zelle, wire transfers, debit cards). There aren't instant transfers with all the same properties as ACH, but later this year there will be.

gdy3y ago

Interesting. What makes ACH special?

j / k navigate · click thread line to collapse

0 pointsScoundreller3y ago0 comments

System-wide Innovation is a lot easier when one’s country has a handful of banks. USA has ~4500 banks, 12x the #2 country, Russia.

https://www.helgilibrary.com/charts/what-country-has-the-mos...

0 comments

gdy3y ago

In Russia money transfers are mostly instant. What stops american banks from using new software and new payment protocols?

astrange3y ago

There are instant transfers (Zelle, wire transfers, debit cards). There aren't instant transfers with all the same properties as ACH, but later this year there will be.

gdy3y ago

Interesting. What makes ACH special?

j / k navigate · click thread line to collapse