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Re:Why Payments Are Hard, Even For Apple And Google by thinkcomp on Sunday March 06, 2011 @05:46PM (#2295256)
That's because the plastic card interchange works in real time and ACH does not. Even your charge cards have a delay, though. There's a difference between authorizing a purchase and capturing the funds. Once funds are captured there's still a batch settlement process that happens each day. So it's not really that big of a conspiracy; the players aren't even the same.
Re:Why Payments Are Hard, Even For Apple And Google by mgkimsal on Sunday March 06, 2011 @08:10PM (#2295576)
Agreed on auth/capture/settle - it's possible it could be different though, we just have an entrenched group of players that prefer the status quo.
Re:Why Payments Are Hard, Even For Apple And Google by thinkcomp on Sunday March 06, 2011 @08:35PM (#2295635)
It definitely could be different. That's why I'm working on FaceCash.