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A comment on Stripe now supports ACH payments. Parent comment

Re:Stripe now supports ACH payments by superuser2 on Wednesday January 13, 2016 @02:58AM (#10892917)
The infrastructure is there. The government operates a realtime gross settlement system with ~$1/transaction cost to banks (FedWire). It even has the very nice security property of being push-based rather than pull. The problem is that banks all seem to have agreed to charge $25/transaction for it.
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Re:Stripe now supports ACH payments by pjc50 on Wednesday January 13, 2016 @06:02AM (#10893505)
The problem is that banks all seem to have agreed to charge $25/transaction for it.

I believe in America this is called a "free market".

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Re:Stripe now supports ACH payments by DrJokepu on Wednesday January 13, 2016 @10:59AM (#10895226)
I mean, there is also a free market in the UK, yet Faster Payments Service transaction cost a fraction of what wire transfers cost in America, so what's the difference?
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Re:Stripe now supports ACH payments by pjc50 on Wednesday January 13, 2016 @03:19PM (#10897157)
To explain the joke, the US system is cartelised, while the UK one is under a bit more political and regulatory pressure to treat customers fairly.

(Not that we haven't had a problem with BS fees or the payment protection insurance scandal!)

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