Please do look outside US market. In India two factor authentication via a text message to bank registered mobile number of the customer is mandated by law. Chargebacks here are virtually unheard of, probably most customers here don't even know what a 'chargeback' is.

The US is keeping its banking system primitive intentionally, as the government is hand in glove with greedy banks. Sending money whether to a business or an individual is free in India, for both parties.