The banks have been in it for decades. Square has taken market share away from them, rather then slow down this has been in fact accelerating.
It might be worth spending 5 minutes understanding how the financial ecosystem works in the U.S, specifically in the SME space and why square has penetrated that market so quickly.
Your posts show a clear lack of understanding across basic payments systems. Ironic given your positions in MC and Visa, which by the way can still coexist with square.
APT Price at posting:
$83.01 Sentiment: Buy Disclosure: Held