Bill Gates is quoted as saying, “Banking is essential. Banks are not.” This has never been truer than it is currently when we consider the explosive growth of alternative payment mechanisms. WorldPay data shows that, today, alternative payment mechanisms account for €165 billion of global e-commerce transactions, representing 22% of total transactional value, and they are expected to enjoy a Compound Annual Growth Rate (CAGR) of 13% in the run up to 2015