With a new spectrum of possibilities opening up in a world where all banks are connected to all retailers and all consumers all of the time, the 1960s four-party party may be over. One specific gatecrasher is account-to-account (A2A) payments.
These are payments that shift money from the payer’s bank account to the payee’s bank account through the instant payment networks that are springing up around the world. These are inexpensive, push-only credit transfers that complete (for consumers and businesses) in seconds whether the underlying settlement networks are actually real-time (as in Australia) or net (as in the UK). Read more here on Forbes