Banks have not put all of their eggs in the TCH basket. There is another Bank Consortium around payments which I have not discussed: Paydiant has been working with 27 odd banks around a “Push Payments” pilot for last 2 yrs.
Most retailers I’ve spoken with take the view “we just won Durbin and are in the midst of steering customers to debit.. why on earth would I want to support a new product type that is more expensive AND gives banks more control? AND further enhances merchant funded rewards? Will this improve my sales”?
if Google had challenges pulling off POS innovation (after ~$1B in investment), rest assured you will too. Banks are well positioned to throw sand in your gears … focus on delivering value within merchant –consumer relationship.
Banks don’t really want consumers to choose… not really… they will make their favored option seamless and ensure friction with everything else. This is normal business behavior, but payments are a networked business. Banks SHOULD be neutral here.. they DO NOT direct commerce but support it.