Subject: Re: Paypal
I can see this as depressing PYPL's share price in the short-term, but also a headwind over the longer term. Unless I missed something, FedNow charges the sender a 4.5¢ fee per transaction up to $100K. How can anyone compete with that?

An anecdotal view:
Bank account to bank account direct transfer fees are regulated in the Euro area and are really low. (SEPA tranfers are usually free, sometimes '0.20)
But the traditional credit cards are doing just fine, as are Paypal and the other transaction leeches.
It seems that most people are driven by habit and choose what's handy.
There is certainly some shift among the higher cost options, but that seems to be driven more by convenience trends (Apple Pay) than low cost.

Jim