Traditionally that's how banks operate, they settle up and the end of each business day. I think it's called reconciliation? Maybe that's only in the UK, I forget now. But that's only possible between peers who do X amount of business in a common timeframe.
Remember that different debts have different interest rates and maturity times. Also, remember, not everyone wants to pay off their debt. It's a burden for the individual but for a business debt can be a good thing - you get a known amount of capital that you can invest with a predictable repayment schedule at a known rate of interest. Have a look in this thread, I wrote up a short explanation of why some months back: https://news.ycombinator.com/item?id=8624979
Remember that different debts have different interest rates and maturity times. Also, remember, not everyone wants to pay off their debt. It's a burden for the individual but for a business debt can be a good thing - you get a known amount of capital that you can invest with a predictable repayment schedule at a known rate of interest. Have a look in this thread, I wrote up a short explanation of why some months back: https://news.ycombinator.com/item?id=8624979