not necessarily. in europe there's a big push for an improved direct pay system which allows normal people to just send money to eachother wirelessly and instantly. kind of like cash app without the middleman, if i understand it right. what needs to go is payment processors, and that's an option.

Sounds like SEPA instant transfers, which to my understanding is mainly being held back currently by banks not upgrading their systems to support it, like here in Finland there are banks which fully support it but others only support sending and not 24/7 receiving which makes matters cumbersome.