Payments is being narrowly defined by US Bankers in particular as “electronification of cheques”, and this article confirms that view. 

In the US cheques are still prevalent, so there is a need to automate cheque’s but I believe to narrowly define payments and payment strategy in this way is to miss an opportunity, and strategic threat.  The narrow view will “pave the cowpath”, and be driven by regulation, specifically Check 21.  Current processes will be replaced by electronic ones.  Whereas the broader view will accomplish Check 21, yet ensure that processes, and methods are re-engineered.

Banking Strategies Blog : Where’s the Vision for Banks in Payments?

One obstacle to such a shared vision is differing opinions on the role of check imaging. Should it be seen as a technology that can prolong the life of the paper check — and thus preserve bank revenues? Or is it just a transition phase, to be passed through quickly, on the way to an all-electronic future?

Leander in this article, has a more strategic view, even thought its still inwardly focussed on improving the industry, versus and outward view, that would look at this through the lens of customer service (my perspective).  Note the reference to “the way we deal with one another”.  Important as this is, I remain convinced this ought not be the core driver.  Such a view is always lacking because it does not take into account changing customer behaviours, and evolving competitors.

Leander also believes that providers need to reduce overlapping infrastructure in the payments space, both in terms of telecommunications networks and industry groups.
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First, banks should be vocal about not supporting multiple
infrastructures behind the scenes. Big banks and small banks incur
significant expense dealing with complex, conflicting and overlapping
infrastructures in the payments world. As owners of those
infrastructures, the banks are in a great position to improve this.

For example, the number of telecommunications networks that support
payments and payment-related information is just astronomical. Banks
need to begin to find a way to rationalize this infrastructure and
simplify the way we deal with one another.