Banks pay fees today around this to the payment networks. The Fed could simply charge a tiny fee per transaction to the bank to cover this.
It would be much less expensive than Visa and Mastercard, since there is no service fee on top.
To clarify, I never said it be 100% free, but it would dramatically lower and standardize fees.
As far as trust goes, if you can't trust the central bank, we have bigger problems don't we?
Banks pay fees today around this to the payment networks. The Fed could simply charge a tiny fee per transaction to the bank to cover this.
It would be much less expensive than Visa and Mastercard, since there is no service fee on top.
To clarify, I never said it be 100% free, but it would dramatically lower and standardize fees.
As far as trust goes, if you can't trust the central bank, we have bigger problems don't we?