Student or Learner
Moving from paper check to e-check may ultimately lead to a system that looks very much like an electronic debit system. In addition, ACH payments are gaining market share.Thus, in the long run, there may be convergence between the two systems. Where would leave that new internet payment schemes? Strictly speaking, if the US moved towards a giro system, there would be much less need for a C2C system such as PayPal.
What does "that" in the bold sentence refer to? Given to this sentence what would be left?
It should be:
Where would that leave that new internet payment schemes?
That refers to the possible situation where there is convergence between the two systems. It means that these new payment systems might be in trouble.