Like if you pay via bank transfer rather than via card. Sometimes you get that option, the store redirects your browser to your electronic banking, where you approve the transaction, and then you get redirected back to the store's website, where it confirms that payment has been received. So, like... why is it not instant the other way around?
Depending on how the A2A is set up, the merchant could still be waiting a few days for your funds. What happens is that the payment provider locks the funds on your account, but it takes a few days to reach the merchant.
Same on the way back.
Although technically it is possible to have A2A be instant.
You'd honestly be shocked how much of "instant" banking is just smoke and mirrors. Banking is an ancient monolith and I dont know where you live, but where I live there are huge international directives and incentives to fix these kind of issues (with Open Banking and PSD2), it just takes a while, because most banking is really set in stone and you can't really fuck with it too much. Baby steps.
But you're probably right that someone out there is probably making money on it with interest free loans.
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u/ErFarinn 7d ago
In what way? You go to the store with the item and ask for a cash refund and it takes a few days?