As with many innovations, real-time and same-day payments are battling against a lot of deep-rooted habits.
The allure of faster payments should be obvious, but many consumers and businesses have not only become accustomed to the multi-day process of settling transactions — they have come to count on the float to manage their budgets.
Thus, the real drive for faster payments will come from other emerging sectors. Gig economy companies like Lyft
have already been outspoken about the need to pay their workers in real time; after all, a Lyft driver can't wait two weeks for a paycheck to buy gas for the next rider. The solutions available now aren't appropriate for all circumstances; instant debit payments, for example, are only an option for drivers who have a debit card and are willing to link it to Lyft.
As 2018 progresses, the bigger players in the gig economy will get more outspoken about their needs, and new companies will emerge that further validate the push for faster payments.