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@Ketharaman:

Respect your POV, but beg to differ on the perception around P2P / P2B if you may categorize them so. The thin line of what defines a marketplace means has been changing so fast that by the time we hit next year, it could be a completely different connotation, from where we started this year.

if cash was indeed the real competition for everyone,then why does a Paypal think of an investment with Acorn while partnering with Visa and Mastercard. (https://www.weforum.org/agenda/2017/01/how-collaboration-in-the-fintech-industry-can-unlock-digital-growth/)

Also, if Visa and Mastercard were so sure about their business being sound and erosion proof, they would have no need to diversify, partner and invest in upcoming Fintechs as showcased by the many examples below.

https://www.bankingtech.com/2017/12/mastercard-calls-for-fintech-start-ups/

https://www.pymnts.com/news/fintech-investments/2018/solarisbank-visa-investor/

http://www.invest.vic.gov.au/news-and-events/2017/may/melbourne-fintech-airwallex-raises-a$17m-from-mastercard,-sequoia-china-and-tencent

https://www.ft.com/content/23b1b5e8-5b07-11e7-9bc8-8055f264aa8b

https://techcrunch.com/2017/07/26/visa-marqeta-25m/

@Ketharaman: Yes, in the era where the concept of marketplace was not mainstream business, Visa, Mastercard and a few other card networks had all the traffic through them to captialize on, but they were happy to play the 'wait and watch' game to allow newer Fintechs to come in and erode their marketshare. Today, we are in a world, where many new generation consumers do not use a card for any banking transaction and this is bound to resonate across many more markets in the long run.