In Europe people's pockets are already almost free of cash. We pay with a waving of the phone. Cutting off the third party has never motivated people around here, a majority is happy with the service banks propose. For consumers, bank-based payments in Europe are fast and free (they don't see the cost to the merchant, not the cost to maintain a bloated financial infrastructure). So ... thank you, your arguments might work in certain geographies, but not around here.