The document explains why FedNow and RTP have not yet achieved rapid adoption in the US despite growing interest. As outlined on page 1, key barriers include fragmented readiness among banks, limited consumer demand, and slow development of compelling business use cases. Many institutions lack the infrastructure for real time payments, while consumers already perceive existing apps as sufficient. The absence of regulatory mandates, unlike in other regions, further slows adoption. Additionally, unclear monetization models and concerns around fraud and liquidity risks hinder progress. Overall, adoption is expected to grow gradually as infrastructure, use cases, and value propositions mature.

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