5 Min Ago: FEDNOW Just Did Something Big! CBDC | US Dollar | Credit Cards [What you NEED to know]

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Let’s talk about the FedNow. Sure, they talk about all the advantages but the FedNow launch also comes with some pretty big challenges for banks and other payments players. Moody’s as well as Tucker Carlson did a whole report about it. Loss of interchange revenues. Issuers rely heavily on fees from credit card payments and to a lesser extent debit payments. In less than 24 hours the US dollar changes forever. But if consumers and businesses start using FedNow instead of cards, those revenues could dry up. This will lead to poverty all over the US. In 2022, merchants paid an estimated $85.6 billion in credit card processing fees, and more than 80% of this went to issuers as interchange revenues.

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#CBDC #fednow #creditcards Disclaimer: These are my opinions and not the opinions of my employer. The content shared in this video is for entertainment purposes only.