PayPal: Less than a Friend?

Over the course of the past 15 years, PayPal has undergone a series of successful transformations that have resulted in the online giant expanding beyond its traditional e-commerce payment services to provide its ever growing consumer base many of the functions traditionally associated with checking accounts. PayPal has often considered itself a "friend" of the banks. Does the transformation of PayPal's payment services threaten the future of this relationship?