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A comment on Ask HN: Why are credit card chip readers so slow?. Parent comment

Re:Ask HN: Why are credit card chip readers so slow? by zkms on Monday June 26, 2017 @01:10PM (#14638410)
> I'd say U.S. banking is, if nothing else, generally at the forefront of digital technology despite heavy regulation.

Transferring money with ACH takes multiple business days, this is not at the forefront of digital technology.

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Re:Ask HN: Why are credit card chip readers so slow? by jdmichal on Monday June 26, 2017 @05:40PM (#14640612)
First, most ACH transactions clear in the same day [0]. Second, that's also completely ignoring newer networks like clearXchange / Zelle, which clears in minutes [1].

[0] https://www.nacha.org/news/what-ach-quick-facts-about-automa...

"Specifically, the NACHA Operating Rules require that ACH credits settle in one to two business days and ACH debits settle on the next business day. Recent enhancements to the NACHA Operating Rules now enable same-day settlement of virtually all ACH transactions."

[1] https://en.wikipedia.org/wiki/ClearXchange

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Re:Ask HN: Why are credit card chip readers so slow? by muninn_ on Monday June 26, 2017 @02:46PM (#14639210)
One example of an inefficiency (especially without any reasoning behind why this inefficiency is happening) doesn't mean much.
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