Very doubtful, but more realistically it could make Paypal and Western Union go away.
I think no, it can't. With the transaction fee that keeps on increasing while the price is increasing, then I think it is still faster to use western union or paypal in that sense.
I would believe that western union or paypal would be gone when we are paying small fee and as fast as those. With regards to banks, no it won't disappear no matter how we wish that it happen.