There it is, the new payment system. I was wondering how they would get people to 'give up' their credit cards. This is paving the way for the consumer version of the CBDC or FedCoin rolling out mid-2023.
Notice there is no pushback allowed or you are fired. Chase is looking to be the first on the block (pun?) to put this into consumers hands.
Wow, wow, wow. This move by Dimon would indicate the pilot testing the Fed is doing now is going very well.
1 posted on
12/10/2022 4:20:23 AM PST by
EBH
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To: EBH
Are they giving up the fees as well?
2 posted on
12/10/2022 4:22:31 AM PST by
Bernard
(“the rights of man come not from the generosity of the state but from the hand of God." JFK 1-20-61)
To: EBH
In other words, Chase can cut off your ability to use electronic payment from your Chase account if they feel like it, for example, some Chase employee saw a social media post they did not approve of.
3 posted on
12/10/2022 4:25:16 AM PST by
C19fan
To: EBH
Yep... Digital currency through the backdoor...
4 posted on
12/10/2022 4:26:40 AM PST by
Openurmind
(The ultimate test of a moral society is the kind of world it leaves to its children. ~ D. Bonhoeffer)
To: EBH
Put it into consumers’ hands?
SNORT.
More like shove it down our throats.
5 posted on
12/10/2022 4:27:18 AM PST by
mewzilla
(We will never restore the republic if we don't first secure the ballot box.)
To: EBH
To: EBH
Uhhhh, this isn’t new.
Sounds just like the Visa/debit card I’ve been using for decades.
10 posted on
12/10/2022 4:44:18 AM PST by
Responsibility2nd
(Fake News. Might be true; but it’s designed to distort, mislead, brainwash and BS sheeple. )
To: EBH
The banks have been using this system internally for a while. It is faster and more efficient. And…they cut out the middleman.
This is blockchain tech. Crypto isn’t dead. They just don’t want YOU using it.
To: EBH
Sounds like a normal debit card to me. What is so special about it? People use credit cards because they don’t have money in the bank.
To: EBH
I don’t see how this is any less anonymous than what we already have. What it does do is it has no “float” time, and it probably gets them out from under consumer protection laws that gives them primary responsibility for fraud, etc. As others have said, like a debit card.
14 posted on
12/10/2022 4:54:04 AM PST by
beef
(Say NO to the WOE (War On Energy))
To: EBH
Chase currently is the bank for Amazon’s credit card. Just throwing that puzzle piece out there.
15 posted on
12/10/2022 4:54:28 AM PST by
Eccl 10:2
(Prov 3:5 --- "Trust in the Lord with all your heart, and lean not on your own understanding")
To: EBH
Will I still get airmiles?
20 posted on
12/10/2022 4:58:41 AM PST by
moovova
("The NEXT election is the most important election of our lifetimes!“ LOL...)
To: EBH
Isn’t this a debit card? Don’t see the advantage to this. We already have it.
25 posted on
12/10/2022 5:01:59 AM PST by
Baldwin77
(Super, Duper, Ultra Maga, subject of the Ultra Maga King Donald)
To: EBH
I use Chase card for my Amazon purchases. They give you a certain percentage back on future Amazon purchases for doing do. Guess that will stop.
29 posted on
12/10/2022 5:04:52 AM PST by
Ciexyz
(Prayers for America.)
To: EBH
New?
It sounds like a debit card to me.
To: EBH
You mean no more spending money you haven’t got? That takes all the fun out of credit. What else is it for?
40 posted on
12/10/2022 5:22:12 AM PST by
ComputerGuy
(Heavily-medicated for your protection)
To: EBH
Very happy that I stopped using Chase about four years ago.
Chase is dirty.
To: EBH
It’s time to get more Chase credit cards. Why? Hefty signup bonuses.
To: EBH
Try to buy ammo or a firearm using that system, or make a donation to a christian organization.
To: EBH
52 posted on
12/10/2022 5:51:33 AM PST by
P.O.E.
(Pray for America.)
To: EBH
Chase is working on a direct payment system that will allow funds to be routed from a customer's account directly into a merchant's. It's called a "Debit Card." Been around for decades.
55 posted on
12/10/2022 5:59:51 AM PST by
Yo-Yo
(Is the /Sarc tag really necessary? Pray for President Biden: Psalm 109:8)
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