From the friendly article: For the most part, however, the challenge is not head-on. In fact, by making it easier to buy things, most new payments services are

From the friendly article: For the most part, however, the challenge is not head-on. In fact, by making it easier to buy things, most new payments services are pushing extra business to the existing channels, dominated by banks. ... In the long run, banks risk becoming the providers of a cheap, commoditised service, with most of the money in the payments business going to firms that make customers’ lives easier or provide new services. ... Even worse for banks would be a future in which people begin to store more of their money outside the banking sector and make payments that are not tied to a formal bank account.