There are many parties that would gain from a better payments system. However the logistics of improving it are significant due to the number of highly regulat

There are many parties that would gain from a better payments system. However the logistics of improving it are significant due to the number of highly regulated and kinda-fat and kinda-happy entities running the infrastructure. Interestingly what has happened in India and China (success of non-bank payment wallets VS cards) is injecting a lot of the traditional players with a sense of urgency. Before this it would have taken a states intervention (Eg MEPS in Sing/MY) to improve acceptance through the launch of a new payments system.