How does effect Visa & MasterCard
Visa: https://developer.visa.com/capabilities/visa_direct Mastercard: https://www.mastercard.us/en-us/issuers/products-and-solutio...
According to https://www.forbes.com/sites/tomgroenfeldt/2019/03/15/visa-d... >50% of Uber/Lyft drivers opt to pay a 50 cent fee to get paid in real-time instead of via ACH.
To use a bank transfer you need to enter details (phone number or a bank number and account number) and then need either a description or reference number to match it to at the other side. And even with the New Payments Platform (fast payments), it can still take 30 seconds or so to come through. That's fine when paying an invoice or sending money to friends, but too cumbersome at a point of sale.