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" If you don't think consumers will benefit in the end, I think you'd be delusional."

The point is if the customers don't see the benefit, they will not believe it.  How often do we see that a cost saving for a retailer or utlity is not passed on to the customer? All the time.  They only pass it on, when they get found out.

Will it affect long term pricing because the market is competitive - sure. But will the customers see the direct link - I doubt it.

This is great example why payments innovation in the UK is slower and less innovative than it could be. 

"Pay by Bank enables customers of UK businesses to make online payments for goods and services via their banking app, and directly from their bank account"

Why would any shopper in their right mind do this and potentially loose the protection that comes by paying by card?  But more importantly give direct access to their main bank account.

This is being touted as a benefit to the shopper but what is the benefit?

I can see the attraction to the merchant as it might lower their costs.

The point I am making is, that for adoption to take off there has to be real benefits to the consumer, so unless some of the Merchant savings are passed on to the consumer e.g. as loyalty rewards, why would they use Pay by Bank.

But at the same that also means that 110m+ people are interested in bitcoin aka crypto currencies. Whilst there are challenges today, Blockchain and crypto currencies have so many broader benefits, that I believe they are to stay.

The problem is that it is not easy to get involved and many people don't understand how it works, so are nervous about getting involved. But there now initiatives, such as Bankerea and Cryptov8 that aim to make crypto currencies more accessible.

A new business account in minutes - sounds great. But at the end of the day the set-up is only a once off.  What I find equally and probably more exciting, is the surround services.  They seem to treat me as a business customer, not just a business account holder.

Whilst the on-boarding experience is very important, the on-going service experience is extremely important. 

I do wonder whether this is an example of where banks are getting their digital banking priorities not quite right. Why I am saying this?  As a HSBC business banking customer I am exposed, on near daily basis to their business online and mobile solutions and I am sorry to say they are pretty poor and very, very limited in self-service functionality. 

I am otherwise quite happy with HSBC but the regular frustrations I have with the digital business banking solutions, is such that I feel I have really no other option then to look elsewhere.

So, I my comment/question is; are banks getting the balance right when focussing their digital investments in 'leading edge' features or should really focus on getting the basics right first, so they can retain their customers?

Thanks Shane - Does it do anything new for me as a consumer? Anything that makes my life easier/cheaper?

The power of brand is truly amazing. If I hear you right; people will go out and spend hundreds of pounds buying a new iPhone, just so they can spend more money on buying more stuff, in order to make cool payments that then costs the retailer more.  And all this just because it is more cool to use ApplePay than their bank issued Debit/Credit Card?

Amazing - it actually reminds me of a fairy tale - 'The Emperor’s new clothes'. I wonder if there are any little boys around.....

Or maybe I am missing something?

I would be interested if someone could explain to me what APay bring to the market that is new and unique?

Or is just yet another case of Apple doing something that is already there and charging more for it?

It is a great and evolutionary move. Cash is expensesive and inconvenient for all involved. With proper regulations, value chain cooperation and consumer protection in place, it can work. 

I am sure there likewise was great resistence when we first moved away from bartering and introduced cash......

I wonder if the governement will also be the first to introduce national use of blockchain technologies?