That's not true. The approval is instant[sic]. The settlement takes at least 24 hours.

To me, swiping a card and getting an approval is the same as sending bitcoin to an address and seeing the tx in the mempool. You see the transaction in your wallet within seconds too, just like Visa.

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So, if you are talking about the time it takes for a fungible asset to move from one person to another, bitcoin has visa beat.

I can send you bitcoin, and you can spend it after one confirm, which is usually about 10 minutes, say even in the extreme 60 minutes.

If I go into a store and swipe my credit card, the merchant can't spend that money, since they won't get it until settlement... which is at least 1 day, could be more depending on the merchant's account.

So, yea, Bitcoin settlement, which is the point at which the fungible asset has exchanged hands, is much faster than Visa. That's assuming you don't get a chargeback too.

Neither is instant.

Of course, lightning will change that and make the settlement almost instant too. So, much better than Visa.