- Fintechs have played a key role in enabling and enhancing digital payments for consumers and businesses during COVID-19, increasing the ease of online and mobile transactions and digitizing manual processes.
- Many innovative fintechs are being buoyed by abundant liquidity and investor momentum, but their business models and growth profiles could be tested as the economy normalizes.
- Big banks have also stepped up their technology investments to create more robust mobile and digital experiences for customers and payment networks are continuing to partner with innovative fintechs.
- In some markets outside the U.S., the lack of existing infrastructure and supportive regulation have led to the creation of new mobile-phone-based networks and payment providers.
For further details see:
The New Normal: Fintechs Transforming Digital Payments