This would benefit consumers because we could then create money at the point of sale (same as we're doing now with credit cards) without digging ourselves into debt.
I don't get it. If it's payroll-related, we are due the money anyways. So I'm still not seeing a benefit. Splain?
Look at it from the employers point of view. The majority of you companies overhead consists of having to constantly "deposit" revenue into payroll.
In contrast, you would only need to deposit a fixed sum of funds into your employees virtual bank. That takes care of them and eliminates your payroll.
From the employees point of view, they will still have all the purchasing power they used to have with a steady income. However, remember the part about people extending credit to themselves to convert their credit potential into income? People could directly control how much income taxes they owe by managing how much credit they extend to themselves.