Are payments the impossible dream for banks?

I wanted to ask this question I found in an article on Bankwatch today to the Banktastic Community. Are payments getting to be impossible banks?

Here’s a quote from the Bankwatch article that further explains what they’re getting at:

“When it comes to payments Banks are giving away the shop yet not levering their own systems themselves. When Paypal moves money using ACH/ EFT those funds are held to 48 hours before being cleared. In Canada, the Banks set up EMT (Electronic Money Transfer using a backend based on email and password methology) and that offerred instant payments. That was a new and additional infrastructure.

Why not lever your own systems, and out Paypal within instant ACH/ EFT? Yes there are regulations and rules, but if Paypal can do it on your own backbone, can’t you improve on it?”