Nice article here:Payments: En Garde! The Clash of Banks, PayPal. How to judge Paypal...?
Many EU observers often claim the e-money directive hasn't worked at all, allowing only 15 competitors market entry in 5 years. So hasn't it worked? Future will demonstrate how wrong those observers are. Paypal has used the e-money regulation as a stepping stone for it's current banking license in Luxembourg. And will now use the banking license to further skim the banking market.
Meanwhile banks struggle with legacy systems, legacy thinking and legacy regulators... so here's definitely a revolution in the making.....
