Alternative payment methods challenge plastic's supremacy

That's all semantics. Ultimately, the money is in the bank account. It doesn't matter (much), from that perspective, how the instructions to allow for the funds to be moved are generated/fronted - debit card or DD or pigeon post.

PayPal ewallet is often funded via credit card. It's also possible to pay by credit card via PayPal without having a PayPal account, which means PayPal but no ewallet. If WorldPay subtracts the volumes of these two types of transactions, its prediction might go awry. Which makes for a good candidate of the "#3. Exploiting Calculitis" method of How To Lie With Big Data.

Is not most of these non bank wallets simply closed loop account systems managed by one entity and the real payment orders transferring monies from payer institution to payee institution take place with visa or mastercard? Thereby these non bank methods simply put a facade on the real payment means, adds an extra layer of cost and gets the merchant to pay the extra fee because of the percieved higher conversion rate and convinces the consumer that they offer better security. Due to the duplicate cost layers these wallets are dead on arrival but it will not be obvious to the market yet. As competition increases they will fold. Do not invest your retirement pension in such duplicated services.

@AnonFinextraMember:

1. While ewallets do use V/MC, that's not the only rails they can use. Some of them support TELCO rails e.g. Boku, Zong. Others use ACH rails e.g. PayPal, PayTM
2. I regularly use an ewallet because it eliminates the friction associated with the conventional payment process. For the merchant, that means manifold increase in conversion. Real - not perceived - increase. Due to reduced friction, not higher security. HDFC Bank's PayZapp Ends My Bill Payment Woes
3. Gone are the days when middleman automatically meant higher cost. When I pay a bill directly, many biller websites levy a surcharge of 1-2% for accepting credit cards. Whereas, when I pay the same bills via a third party mobile wallet like PayZapp, not only do I escape the surcharge but I actually get a cashback at the end of the month. So, thanks to funding from sugar daddies / VCs, middleman could actually mean LOWER costs! Both for the consumer and merchant. 
4. As long as the funding tap doesn't dry up, ewallets are not dead-on-arrival. Personally, it's never a good idea to invest your nest egg in the private markets but, as long as the party lasts, why shouldn't savvy consumers and merchants partake of the festivities?