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Re:Move to Pull Consumer Protection Rule Heightens Debate ov... by rootusrootus on Thursday March 07, 2019 @10:48AM (#19328961)
I wonder why we don't have pay-as-you go for income. There is no particular reason we couldn't pay people at the end of every day just as easily as every two weeks or once a month.
Re:Move to Pull Consumer Protection Rule Heightens Debate ov... by SegFaultx64 on Thursday March 07, 2019 @10:55AM (#19329038)
A few companies do, including Uber. The real issue is that the American banking system is insanely slow and outdated so transferring large sums rarely is way more economical than doing small sums frequently. ACH takes 1-3 days. Push-to-debit is expensive and not universal. Cutting checks daily would be a nightmare and raises a whole other set of issues around check cashing.

People are working on this from a tech perspective, but we are not there yet. In other countries this would be a lot easier to implement because the underlying banking infra is just more sophisticated and modern.