Jonathan Kaftzan , Director of Digital Marketing at Amdocs , the communications , media and entertainment technology and services provider , has drawn on a recent Bank of America report to forecast that mobile payments will represent 10 % of total payments for India during 2016 , as the interoperability of cryptocurrency transactions continues to develop and the popularity of mobile internet and e - commerce gains global traction . Mr Kaftzan has reportedly stated that the predicted 200-fold growth over the next five years to $ 3tn will bring great opportunities for the country 's IT , telecom , and banking and mobile wallet companies as the mobile banking phenomenon escalates in response to the digital preferences of millennials . Jonathan Kaftzan, Director-Product Marketing, Mobile Financial Services, Amdocs, explains some of the important developments driving this space in the next one year and beyond. Peer - to - Peer ( P2P ) lending , partnerships between new banks and telecoms arising from the boom in financial technology start - ups , and advanced mobile financial services such as loans , insurances and credit card services will offer the most lucrative business opportunities , as traditional banking processes are gradually abandoned and the world moves towards a new one - currency era .
Jonathan Kaftzan , Director of Digital Marketing at Amdocs , the communications , media and entertainment technology and services provider , has drawn on a recent Bank of America report to forecast that mobile payments will represent 10 % of total payments for India during 2016 , as the interoperability of cryptocurrency transactions continues to develop and the popularity of mobile internet and e - commerce gains global traction . Mr Kaftzan has reportedly stated that the predicted 200-fold growth over the next five years to $ 3tn will bring great opportunities for the country 's IT , telecom , and banking and mobile wallet companies as the mobile banking phenomenon escalates in response to the digital preferences of millennials . Peer - to - Peer ( P2P ) lending , partnerships between new banks and telecoms arising from the boom in financial technology start - ups , and advanced mobile financial services such as loans , insurances and credit card services will offer the most lucrative business opportunities , as traditional banking processes are gradually abandoned and the world moves towards a new one - currency era .