The Fed says it will build a Real-Time interbank payments system

ACH is slow and inaccessible to most consumers for P2P payments, debit networks cost real money to use in the USA, and alternatives like Zelle are patchy in support among banks and have low sending limits.

The USA has tons of banks and credit unions. Many small towns will have a bank that only has one or two branches, yet has their own full IT infrastructure.

These small banks barely have websites, let alone comprehensive online banking. The most technically advanced thing these types of banks do is integrate with the Co-op ATM network for withdrawls and deposits.

US payment infrastructure is ossified badly, and desparately needs reform.