The term "bank" comes from the Italian word "il banco" which is a bench or counter top. It is a reference to the original money changers who sat on benches and provided financial services to merchants. Those services, which were the origins of banking, were mostly about issuing loans and changing money.
The services rendered as described in the original article are of a payment system which allows you to deposit cash in one location and withdraw it in another. This is far more similar to the service provided by PayPal, than it is to the primary service provided by a bank which is to issue loans, and to be sanctioned by the state in order to do so.
