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A comment on FedNow FAQ. Parent comment

Re:FedNow FAQ by dannyincolor on Thursday August 18, 2022 @02:15PM (#32513055)
I feel like the branding really shot it in the foot. If they'd named it something less "startup-y" sounding, and marketed it as secure, instant transfers backed by the banks themselves, they might be in a better position.

I still use it all the time since it's a superior to any other offering for instantaneous high-dollar transfers, but it always feels like a "Venmo got embedded in my banking app" type of interface vs. "my bank is offering a direct payment service to it's other networked banks".

Hard to define, but I do think the marketing/branding/rollout were more to blame than the merits of the service itself (IMHO, Zelle is great).

[ Parent | on HN ]
Re:FedNow FAQ by squeaky-clean on Thursday August 18, 2022 @03:18PM (#32513744)
Chase used to call it "Chase QuickPay", which was a great name. And when they joined Zelle and started supporting other banks it became "Chase QuickPay With Zelle". I don't know why it needed 2 product names but at least one of them told you what it did. And now it's just Zelle...
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Re:FedNow FAQ by datavirtue on Thursday August 18, 2022 @06:03PM (#32515427)
Yeah, if it had piles of VC money shoving it down people's throats it might have been received better.

The banks don't make money on it...so boring to them and therefore neglected from a marketing perspective.

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