Facebook, Amazon, Alipay and others cut out banks in providing payment services February 14, 2017 by: Madhumita Murgia and Martin Arnold "Last October, the Central Bank of Ireland added an unexpected company to its roster of digital payment providers — Facebook Payments International Limited. The licence it granted authorised Facebook to provide basic financial services, such as electronic money transfers, to all citizens of the EU. "“What percentage of bank revenues will come from payments and interchange in 10 years? My bet is it will be a lot smaller than today, because of online services like Ant Financial’s Alipay. That’s a fact of life for banks,” said Mr Parker. “They can either resist it or get on board and exploit it to sell additional services and products.”