[forkLding]

Its interesting how they didn't mention Paypal as a wannabe Alipay tech company, last time I used Paypal, its basically functioned as an alternate bank account that just doesn't accrue interest whenever I use it to buy stuff on the internet or sell stuff. I can also see the similarities between the UI of my actual online bank account and Paypal account. Users (like me) will also really appreciate if they took on more banking stuff because I already have cash in the account. I think Stripe is similar in that aspect too.

This is basically Paypal's dream scenario to become a bank because they already deal with the regulatory stuff but don't get the full money earning potential of a bank.

[steve19]

PayPal is already a bank. From wikipedia 'Since July 2007, PayPal has operated across the European Union as a Luxembourg-based bank'

[forkLding]

I meant bank in the USA, although in many ways financial regulations in the EU should be more restrictive and complex due to member state issues so interesting that it hasn't done so in the US.