How does it compare to Zelle (Early Warning Systems) from an integration and cost perspective for financial partners?

Personally, I’d rather the Fed run real time payments instead of some private consortium made up of the largest US banks (some governance/overnight vs less so as a private corporation), but the Fed’s been dragging their feet for years while Zelle has rolled out quickly. Humorously, Facebook’s Libra is what set a fire under the Fed [1] [2].

[1] https://www.bankingdive.com/news/fed-gives-new-details-on-it...

[2] https://www.federalreserve.gov/newsevents/pressreleases/file... (warning: 50 page pdf)

"Personally, I’d rather the Fed run real time payments instead of some private consortium made up of the largest US banks "

I allways thought, that the fed is exactly this? A private consortium out of the biggest US banks?

(But I am not a US citizen, but this is what I understood and thought strange, compared to the EU for example)

It’s a public private hybrid entity that is accountable to the US Congress (who also defines their mandate).

https://www.federalreserve.gov/faqs/about_12798.htm