When I owe my friends money I either have cash or I just get their bank details and put money into their account. I really don't need a third party to hold mon

When I owe my friends money I either have cash or I just get their bank details and put money into their account. I really don't need a third party to hold money in escrow to then move between people, banks already exist for that and it takes like 2 hours to show up in their account. Sure an account number + sort code is slightly less easy to input than an email address but it's hardly difficult and after the first time my bank will remember it anyway.