Comment by staringback
3 years ago
Given how generous credit card rewards are in the US, combined with the interest rates that get charged to people who buy things they can't afford, I don't see it replacing credit cards.
3 years ago
Given how generous credit card rewards are in the US, combined with the interest rates that get charged to people who buy things they can't afford, I don't see it replacing credit cards.
You need to see it from the merchants perspective. What if they offered you a 5% discount for paying with FedNow?
5% is still in the realm of cashback rewards, I use my Citi Custom Cash card to purchase gas and receive 5% back (it is cheaper this way even though the credit price is usually 10c higher per gallon)