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So new taxes to support the infrastructure that allows feeless ACH/payments? Not saying I'm for or against, I'm just trying to understand your argument in full. It seems like the logical way that your idea would be funded.

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The Nordic countries have instant payments. It doesn't actually cost anything extra (just the usual flat fee, maybe $0.20 to $1... although for smaller payments like for a candy bar, you could choose a 0.5% to 1% fee which might be cheaper...), except for companies that gain from rents they charge for wire transfers, etc. Here's an example from the Nordic countries: https://nordicpayments.eu/p27-the-payment-gamechanger/

Actual expert on the topic: "For truly "instant" clearing and settlement the main hope is the RTP network, which already has extensive coverage. (FedNow, its rival, is 3 years away). The Fed can also quicken payments by (1) having Fedwire and NSS operate 24/7 and (2) easing FinTech Master Account access." https://twitter.com/GeorgeSelgin/status/1356937488871358465?...

Ahh, so transaction fees fund the infrastructure. Makes sense. I guess what do we do with any excess generated by those fees? Reinvest into the infrastructure? Have it in a safety box for a day when the fees can't cover the cost in the short term? Interesting things to consider I think, but that does flesh that idea out more. I wonder, do they also offer state run accounts instead of private banks holding cash?

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