[JesusIsLord]

FedNow isn’t offered directly to individuals and businesses, but it will serve as the basis of infrastructure for instant payments by linking banks.

So, for consumer to business transactions, why is this any different from me having my bank wire $$ from my account to company X's bank account?

[goodnesswins]

The big guy, ie gov’t, gets a piece of the action!

[devane617]

Imagine all the banks and payment folks like PayPal Quicken etc that this will impact. wow

[Boogieman]

Wire transfers can still take 1-2 business days for the funds to “clear” and be available in your account. Sounds like this is nearly instantaneous.

[GunRunner]

So, for consumer to business transactions, why is this any different from me having my bank wire $$ from my account to company X's bank account?

Speed and cost.