Instant settlement is an anti-feature.
I don't want some asshole to be able to instantly drain my bank account. If I did, I'd be carrying a suitcase of cash around with me.
Instant settlement is an anti-feature.
I don't want some asshole to be able to instantly drain my bank account. If I did, I'd be carrying a suitcase of cash around with me.
You can have instant settlement while still maintaining fraud safeguards (e.g. daily payment limits) and remediation mechanisms (e.g. reversing fraudulent transactions). With modern 2FA and device-based security, this risk is extremely low. Not a risk that justifies a 2.5% tax on every transaction plus all the other disadvantages of the credit-based system.