In reply to pir.

Pir: Thanks for the thoughtful & insightful analysis. I believe that the "Cloud Based" banking system of the future generations of competitors will be its own "disruptor". Wouldn't you expect other B2C entities using the British ACH experiment as a beta site for testing the rate of adoption that will be forced on them (by disruptors and existing players)? Would you view the British ACH model as a kind of "low cost" baseline beachhead of defending the investment cost structures?
I totally agree with your description of Square's approach. I take this approach based on the notion that investments in the Cloud based future will replace the bricks and mortar investments and that Moore's Law is not showing any signs of slackening and will continue to challenge our assumptions about what and how disruptors will influence competitive entries for the near future?
A disruptor such as a large retailer (Bentonville Ark.) comes to mind entering the commercial banking sector???
These are some thoughts that come to mind today but I would appreciate your insights into the major influencers in the B2B sector...not just the B2C arena. Thanks again? Bob