In reply to maxbaxter.

And you think that the world’s banks (or the world’s governments) are going to allow anyone, other than another licensed, prudentially regulated financial institution, to be able to access funds in real time in depositors’ debit bank accounts? A naïve concept if ever I heard one ...

Regardless, the "debit" (EFTPOS) function on a MasterCard or Visa transaction at a physical point of sale supplies what you are looking for at a nominal cost. All the merchant has to do is require that the card transaction be a "debit" transaction. It's as simple as that, or at least it is as simple as that in Australia.

I don’t hold MC or VI; I’m simply looking at the matter from a practical point of view; you, on the other hand, may be a CurrentC fanboy, otherwise you are simply delusional …