This would likely result in inefficiencies, requiring individuals and organisations to maintain identities with different providers for different purposes, and leave security gaps. Summing Up In finishing, I would reiterate that technology has become a source of competitive difference in the payments industry over the past decade or so.
The application of payments technology has certainly allowed the Reserve Bank to compete for the government's transactional banking business, delivering value for money services while, at the same time, allowing the Bank to perform its traditional role of banker to the government. There will, of course, be more developments and further advances.